Singapore Dollar: Downside bias within established range against US Dollar – UOB

FXStreet Insights Team FXStreet

UOB’s Quek Ser Leang and Lee Sue Ann note that USD/SGD opened stronger after a quiet prior session, with upward momentum tentatively building but still facing resistance around 1.2945–1.2955. For the next 1–3 weeks, they keep its view that USD/SGD will trade between 1.2890 and 1.2990. On a 1–3 month horizon, a break above 1.3000 could target the November 2025 high at 1.3095.

Range bias with upside levels

"24-HOUR VIEW: USD traded in a quiet manner last Thursday. On Friday, we stated that “the price action provides no fresh clues, and USD is likely to trade between 1.2905 and 1.2940.” USD then traded between 1.2896 and 1.2925. USD closed marginally lower by 0.01% at 1.2920, but it opened on a strong note today. Upward momentum is tentatively building, and the bias for USD today is tilted to the upside. However, it is unclear for now whether there is sufficient momentum for a break above 1.2955 (there is another resistance level at 1.2945). On the downside, support levels are at 1.2920 and 1.2910"

"1-3 WEEKS VIEW: We have expected USD to in a range between 1.2890 and 1.2990 since early this month. Last Tuesday (07 Jul, spot at 1.2915), we indicated that “the risk of USD breaking below 1.2890 is increasing.” After USD subsequently rebounded, we highlighted on Thursday (09 Jul, spot at 1.2940) that the recent “mild downward pressure has eased,” and USD “is likely to trade in a range between 1.2890 and 1.2990.” Our view remains unchanged."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

GBP/USD stays slightly offered below 1.3600

Following an initial drop to fresh six-day lows, GBP/USD now picks up some updside traction and trades in levels just shy of the 1.3600 barrier on Thursday. The generalised cautious tone among market participants continue to underpin the Greenback ahead of Friday’s data releases and the Fed Warsh’s speech.

EUR/USD struggles for direction around 1.1650

EUR/USD gyrates around the 1.1650 region amid the absence of clear direction and following an earlier drop to the 1.630 area. The pair’s vacillating mood comes in response to the equally irresolute price action in the US Dollar as investors warm up for the release of the NFP Annual Revision and the speech by the Fed’s Warsh at the Jackson Hole Symposium, both events due on Friday.

Gold holds firm above $4,600 as Warsh speech looms

Gold extended its gains on Thursday, up 0.17% as US jobs data was solid, while the US trade deficit widened. In the meantime, investors eye Fed Chair Warsh's speech, keeping the precious metal near familiar levels. The XAU/USD trades at $4,601 at the time of writing.

Solana, Avalanche, Chainlink see gains as Charles Schwab plans to roll out spot trading products

Charles Schwab plans to expand its crypto trading offering by adding spot trading for Solana (SOL), Avalanche (AVAX) and Chainlink (LINK) to its Schwab Crypto platform, according to a statement on Thursday. The financial services firm announced that clients will be able to buy and sell SOL, AVAX and LINK in their Schwab Crypto accounts in the coming months.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.

Kevin Warsh’s Jackson Hole dilemma: Say too much, too little, or just enough

Kevin Warsh is preparing to deliver his first Jackson Hole speech as Federal Reserve (Fed) Chair on Friday, and expectations extend well beyond whether interest rates will be raised or left unchanged in September.