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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
More View more
Real Time News
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.22% Oil - US Crude: -0.12% Gold: -0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/7UGWflcF7Y
  • - #NZDCHF outlook bearish as the pair struggles to surmount key resistance range - #NZDCAD trading at 13-month highs, but are technical cues hinting at a pullback? - #AUDNZD is again retreating from five-year resistance – how much will it decline? https://www.dailyfx.com/forex/market_alert/2020/07/08/New-Zealand-Dollar-Analysis-NZDCHF-NZDCAD-AUDNZD.html
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.08% 🇪🇺EUR: 0.00% 🇨🇦CAD: 0.00% 🇨🇭CHF: -0.04% 🇦🇺AUD: -0.10% 🇯🇵JPY: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/lTYr3UzRhP
  • RT @DanielGMoss: A ‘second wave’ of #COVID19 cases threatens to hamper #Australia's tentative recovery Uncertainty around the future of fi…
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.26%, while traders in NZD/USD are at opposite extremes with 72.66%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ksJ0N2pq6W
  • A macro forex trading guide exploring how to trade the Euro vs the Swedish Krona and Norwegian Krone through the prism of the Core-Perimeter model. Get your market update from @ZabelinDimitri here:https://t.co/n6zwlZJmGO https://t.co/F8sLZvRG1q
  • If you missed today's session on IG Client Sentiment where I discussed the outlook for the #DowJones, $AUDUSD and $USDCAD while discussing fundamentals and technicals, check out the recording below and stay tuned for a full report! - https://t.co/2wVxhtItzX
  • Wall Street Futures Update: Dow Jones (+0.213%) S&P 500 (+0.175%) Nasdaq Composite (+0.242%) [delayed] -BBG
  • RT @margaretyjy: Watch my Bloomberg TV interview at 9:00AM Singapore time. Coming in soon! https://t.co/Z6u6offept
  • The Core-Perimeter trading model helps traders understand interactions between global economies, helping to trade the assets embedded in these relationships. Get your market update from @ZabelinDimitri here:https://t.co/dKRAo00lfA https://t.co/jw5uvZBvRx
Singapore Dollar Reversal Gains on Hawkish MAS Policy Announcement

Singapore Dollar Reversal Gains on Hawkish MAS Policy Announcement

2018-10-12 01:30:00
Daniel Dubrovsky, Analyst

Singapore Dollar Talking Points – MAS, USD/SGD

  • Singapore Dollar appreciates as MAS slightly increases slope of currency band
  • Inflation estimates were increased but the risk remains frictions to global trade
  • USD/SGD accelerated its reversal to rising chart range support as anticipated

We just released our 4Q forecasts for currencies like the US Dollar in the DailyFX Trading Guides page

As anticipated, the Monetary Authority of Singapore (MAS) slightly increased the slope of their S$NEER currency band at its semiannual policy announcement. The Singapore Dollar appreciated in the aftermath. Unlike conventional central banks, which attempt to influence the pace of the economy with interest rates, the MAS uses a trade-weighted exchange rate index instead given the nation’s large reliance trade.

While the slope was partially increased, the width and center of the band was left unchanged much like last time. The more hawkish tone was accompanied with increases in inflation estimates on account of higher global oil and food prices. They also expect wage growth to pick up pace in 2019 based on an improving labor market. As for growth, the monetary authority expects a continued steady expansion in the quarters ahead.

However, they also mentioned that risks to the outlook remain given the uncertainties with trade frictions between major economies. Just yesterday, it was announced that US President Donald Trump and China’s Xi Jinping will meet in November which could offer some resolutions later on. But for the time being, the intense selloff in global stock markets remain a primary driver for FX and USD/SGD.

USD/SGD Reaction to MAS Policy Announcement

Singapore Dollar Reversal Gains on Hawkish MAS Policy Announcement

Singapore Dollar Technical Analysis

As expected, the US Dollar continued struggling against its Singaporean counterpart given signs of fading upside momentum. At the time of this writing, USD/SGD prices are attempting to push under former horizontal resistance now support at 1.37451. A close under would expose the rising range of support from June. Meanwhile near-term resistance is at 1.38185.

USD/SGD Daily Chart

Singapore Dollar Reversal Gains on Hawkish MAS Policy Announcement

FX Trading Resources

--- Written by Daniel Dubrovsky, Junior Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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


News & Analysis at your fingertips.