USD/SGD steady at 1.3787 without significant movement
Live - Updated 55 minutes ago.Marginally higher but lacking a clear-cut direction, USD/SGD is trading at 1.3787 after ranging between 1.3778 and 1.3796 today.
With regards to technical trend indicators, chart analysis show that USD/SGD made an initial breakout above its 5 day Simple Moving Average at 1.3793, a potential indicator of a newly emerging bullish phase.
Overall, looking at the technical analysis landscape, it seems USD/SGD might continue pointing upwards in the short term.
Positive USD/SGD indicators are expected going forward as United States's new Crude Oil Inventories data will be available tomorrow at 14:30 UTC. Data is expected to decline to -400,000 from its previous value of 4.47 million. United States Core CPI (MoM) (Jul) expected to decline to 0.5, while its preceding data was 0.7, data will be available tomorrow at 12:30 UTC. United States CPI (YoY) (Jul) is expected to come out at 8.7 when it's released tomorrow at 12:30 UTC, this is a decline from the preceding data which was 9.1.
USD/SGD is now trading 2.04% away from its significant high of 1.3796, first tested 28 days ago.
