Skip to content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
SGD Falls Following Optimistic CPI Announcement

SGD Falls Following Optimistic CPI Announcement

Michael Romero,

Talking Points

• Monetary Authority of Singapore Announces Lower than Expected CPI

• Singapore Dollar Weakens Following Announcement

The Singapore Dollar weakened after the Monetary Authority of Singapore announced that CPI had slowed to 0.10 percent in October from 0.60 percent in September, falling short of analysts’ expectations of 0.60 percent as a result of fluctuations in car Certificate of Entitlement (COE) premiums and declines in oil-related items. The central bank argued that the downgrades stem from a decrease in private road transport of 5.6 percent, following a similar fall of 2.8 percent in September of this year. Prices of oil-related items also continued to fall, further suppressing petrol pump prices by 2.1 percent in October, given the recent weakness in global oil prices. Depressed food prices also attributed to falling CPI statistics. Policymakers projected core inflation to remain stable at an average of 2 to 2.5 percent for the remainder of 2014 and 2 to 3 percent in early 2015. Despite the downward trajectory of inflationary statistics, the SGD fell sharply shortly after the announcement.

Please add a description for the image.

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

DISCLOSURES