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CFD Trading Rate US Dollar vs Singapore Dollar (USDSGD)

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Change (%)
Date/Time (GMT 0)
Over the past 10 days
Date Rate Change

Related news

  • 10.07.2024 09:15
    USD/SGD: A scope for a break below 1.3490 – UOB Group

    The US Dollar (USD) is likely to consolidate in a range between 1.3490 and 1.3520. While momentum has not increased much, USD is likely to head lower towards the significant support level at 1.3460, UOB Group FX strategists Quek Ser Leang and Peter Chia note.

    USD is likely to head lower towards 1.3460

    24-HOUR VIEW: “We noted yesterday that ‘the current price action appears to be part of a consolidation, likely between 1.3485 and 1.3515.’ USD subsequently traded in a narrower range than expected (1.3492/1.3515), closing largely unchanged at 1.3505 (+0.04%). Flat momentum indicators continue to suggest consolidation, likely between 1.3490 and 1.3520.”

    1-3 WEEKS VIEW: “USD traded in a quiet manner yesterday, and there is not much to add to our update from Monday (08 Jul, spot at 1.3490). As highlighted, while USD declined last Friday, downward momentum has not increased much. However, USD is likely to head lower towards the significant support level at 1.3460. At this time, it is too early to determine if USD can break clearly below this level. The risk of USD breaking below 1.3460 will remain intact as long as 1.3535 (no change in ‘strong resistance’ level) is not breached.”

  • 04.07.2024 14:25
    USD/SGD: The pair takes a breather – OCBC

    USD/SGD continued to trade lower. The back-to-back drop in the US Dollar (USD) is providing a breather for some AXJ FX, including KRW, THB, SGD. And markets are likely to be looking forward to US NFP (Fri) andUS CPI report (next Thu), OCBC analysts Frances Cheung and Christopher Wong note.

    USD/SGD drifts lower towards 1.35

    “Another softer print should add to USD downside and help with recovery momentum for AXJ FX. That said, RMB, JPY moves are also eyed. Persistent drop in RMB and JPY may still dampen momentum and limit recovery in AXJ FX.”

    “Pair was last at 1.3513 levels. Mild bullish momentum on daily chart is fading while RSI fell. Risks modestly skewed to the downside. Support here at 1.35 (100 DMA) and 1.3460 (50% fibo). Resistance at 1.3590, 1.3620 (76.4% fibo) and 1.3670 (2024 high). Our estimates show S$NEER was last at 1.8% above model-implied midpoint.”

  • 23.05.2024 21:57
    USD/SGD holds firm as markets assess robust US data, markets delay cuts
    • USD/SGD rose to 1.3515 and managed to clear all of its daily losses.
    • The US saw an uptick in manufacturing and services PMI data which bolstered the Dollar.
    • Strong Jobless Claims figures are also painting a resilient US economy which justifies the delay of rate cuts by the Fed.

    The USD/SGD recovered from daily lows, and ahead of the Asian session is trading with slight gains. The pair's movements have been influenced primarily by the cautious posture of the Federal Open Market Committee (FOMC) seen in Wednesday’s minutes, and the strong US Manufacturing and Services PMI figures. Strong Unemployment data released during the European session contributed to the recovery.

    While the US Federal Reserve maintains its cautious approach towards monetary easing, strong manufacturing and service sector data seem to justify the bank’s stance. May's S&P Global Manufacturing PMI surpassed market expectations, increasing to 50.9 compared to April's figure of 50.0. Furthermore, a robust increase was also seen in the services PMI, which accelerated to 54.8 from 51.3, undermining market expectations. Additionally, the US Department of Labor reported a rise in Jobless Claims, which was below the expected estimates, suggesting that the labor market remains strong.

    The strong economic figures fueled a rise in US Treasury yields which seems to be signalling that markets are delaying the start of the easing cycle. This is corroborated by the CME FedWatch Tool which indicated that the odds of a cut in September declined just below 40%. Next week, the US will release April’s Personal Consumption Expenditures (PCE) data which will provide additional insights into the US economy..

    USD/SGD technical analysis

    Within the daily overview, the Relative Strength Index (RSI) is treading in negative territory, inclining slightly towards a neutral trend while oscillating around the 50 mark. However, a recovery was seen after bottoming at 44 which may imply that the buyers are gaining ground. The decreasing red bars of the Moving Average Convergence Divergence (MACD) histogram reveals a decreasing selling momentum, providing a signal that the bear's time might be over.

    USD/SGD daily chart

    USD/SGD

    Overview
    Today last price 1.3518
    Today Daily Change 0.0010
    Today Daily Change % 0.07
    Today daily open 1.3508
     
    Trends
    Daily SMA20 1.3534
    Daily SMA50 1.352
    Daily SMA100 1.3461
    Daily SMA200 1.3493
     
    Levels
    Previous Daily High 1.3514
    Previous Daily Low 1.3459
    Previous Weekly High 1.356
    Previous Weekly Low 1.342
    Previous Monthly High 1.369
    Previous Monthly Low 1.3438
    Daily Fibonacci 38.2% 1.3493
    Daily Fibonacci 61.8% 1.348
    Daily Pivot Point S1 1.3473
    Daily Pivot Point S2 1.3438
    Daily Pivot Point S3 1.3418
    Daily Pivot Point R1 1.3528
    Daily Pivot Point R2 1.3549
    Daily Pivot Point R3 1.3583

     

     

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