Australian Dollar/Singapore Dollar (AUD/SGD) Exchange Rate
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Australia seeks greater economic sovereignty as part of its Covid-19 recovery strategy.
According to a new analysis conducted by the Australian Treasury, the Covid-19 related lockdown is costing the economy A$4 billion per week,
Singapore reported a 17.6% rise in March non-crude exports on the back of a 242.5% surge in gold shipments and a 48.6 advance in pharmaceuticals
Australian job advertisements slumped for March while February exports and imports posted contractions.
Despite the record-breaking contraction in the Chinese manufacturing and non-manufacturing PMI’s February, resulting from Covid-19
Singapore’s fourth-quarter GDP surprised to the upside, followed by a dominant reading for January non-oil exports.
Australian economic data showed an acceleration in the manufacturing recession, but an increase in annualized building approvals.
Australian economic data came in slightly better than expected and was just enough to stabilize the AUD/SGD inside of its support zone.
As the global economy continues to cool, many central banks implement interest rate cuts, hoping to assist the slowdown.
Hong Kong protests continue, but fatigue has set in. The harm to the local economy appears to be easing, as evident by the latest PMI reports.
Commentary out of the US and China over the weekend attempted to strike a positive tone regarding the phase-one trade truce.
Consumer confidence decreased in Australia as the holiday shopping season started, but the AUD/SGD was able to recover.
After the release of Australian economic data that showed the service sector continues to cool down and third-quarter GDP clocked in lower than what economists were looking for
As the Hong Kong unrest continues and China labeled this weekend’s election result as manipulated by foreign actors, the positive impact on the Singapore Dollar appears to be fading.
RBA minutes from the November policy meeting were released during the Asian trading session but had no material impact on the Australian Dollar.
Economic data out of Australia and China showed that the slowdown has accelerated as the Reserve Bank of Australia kept interest rates unchanged as expected
Bearish momentum started to rise as the AUD/SGD advanced into its short-term resistance zone which has rejected price action on three previous occasions.