Forex - EUR/USD, EUR/SGD Flows: EUR vulnerable to fresh 3-month lows below 1.0808; offers 1.0850, eye Greece news. EUR/SGD weighed as MAS Menon says current policy appropriate


Published at 05:32 (GMT) 3 Aug

  

EUR/USD, EUR/SGD Flows: EUR vulnerable to fresh 3-month lows below 1.0808; offers 1.0850, eye Greece news. EUR/SGD weighed as MAS Menon says current policy appropriate (WNKC8401)

Recap: MAS MD Ravi Menon says Singapore core inflation expected to be in lower half of 0.5-1.5%. Headline inflation should pick up in 2016. Headline CPI likely to be negative for rest of the year.

Current policy stance remains "appropriate" for ensuring medium-term price stability. Reviewing GDP growth forecast for 2015. MAS expects Fed to raise rates this year. Next decision in October as scheduled.

On FX, EUR/USD at 1.0827-30,vulnerable to fresh 3-month lows below 1.0808. Lowest level since April 24 1.0783. Offers at offers 1.0850/ 1.0900, eye Greece news. Given the still long road ahead before the third bailout comes into fruition. Stoploss belwo 1.l0800.

EUR/SGD lower at 1.4820-25; as USD/SGD weighed as MAS Menon says current policy appropriate - signaling no easing. And no unscheduled meeting before October. EUR/SGD in range of 1.45-1.50, weighed on ECB QE/MAS pause. More downside seen.

USD/SGD at day lows of 1.3680, from 1.3720-25 after MAS Menon. Offers at 1.3710-20 now, bids at 1.3650-60 from local corporates.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD steady below 1.0800 after US PCE meets expectations

EUR/USD steady below 1.0800 after US PCE meets expectations

EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips.  Fed Chair Jerome Powell set to speak ahead of the weekly close.

EUR/USD News

GBP/USD hovers around 1.2620 in dull trading

GBP/USD hovers around 1.2620 in dull trading

GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.

GBP/USD News

Gold price sits at all-time highs above $2,230

Gold price sits at all-time highs above $2,230

Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.

Gold News

Jito price could hit $6 as JTO coils up inside this bullish pattern

Jito price could hit $6 as JTO coils up inside this bullish pattern

Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.

Read more

Key events in developed markets next week

Key events in developed markets next week

Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.

Read more

Majors

Cryptocurrencies

Signatures