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Let's Talk About a Trend

Let's Talk About a Trend

DailyFX, Research

Let’s Talk about a Trend

Given that the aggressive QE taken on by the Fed could potentially be nearing completion - I wanted to take a look at a pair that offers a currency with the brute potential to outperform the Buck.

After posting the largest national growth rate in 2010 - the Singaporean economy offers - what has previously been called - 'The Switzerland of Asia.'

A big part of the Singaporean economy is shipping - as they offer a strategic waypoint on imports coming into places like Australia and Japan. As a matter of fact - the Port of Singapore is the busiest in the world.

Another big part of the Singaporean economy is entrepot (adding value on imports, and exporting at a higher cost), which could act with a multiplier affect. Imports increase = value added increased = potential bullishness all the way around for SGD.

With rebuilding efforts in Japan not too far off in the distance - the potential benefit to the Singaporean economy presents a compelling opportunity.

The chart of the day is very simple for today - just to show the near 3000 pip run that USD/SGD (aka Dollar-Sing) has taken on.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.