US Dollar/Singapore Dollar (USD/SGD) Exchange Rate
USD/SGD Pivot Points
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The USD/SGD has seen a burst of selling emerge the past day and short term momentum is making current support levels appear vulnerable.
Singapore will hold elections this Friday, where incumbent Prime Minister Lee Hsien Loong will face off against challenger Pritam Singh, where his re-election is widely anticipated.
The USD/SGD has seen a bullish sentiment emerge short term for the currency pair as resistance levels are approached this morning.
Singapore recorded 880 visitors in May amid tight border controls and the absence of a cure for the global Covid-19 pandemic.
If you enjoy speculative forex positions now is your opportunity to potentially enjoy a ride on a rollercoaster.
Singapore industrial production posted a surprise 7.4% drop in May year-over-year despite an ongoing increase in pharmaceutical output.
The Singapore Dollar is trading near the strongest part of its value range since relatively early in March.
Singapore, which retained the top spot as the world’s most competitive economy, as measured by the IMD World Competitiveness Ranking,
Safety means a lot to traders particularly as the weekend approaches.
With the global economy in a recession, which started in 2019 with a manufacturing-led contraction, magnified by the Covid-19 pandemic in 2020, Singapore remained the most competitive economy for a second consecutive year.
The old saying that the trend is your friend in forex is understood by traders.
The Singapore Dollar like many currencies lost value to the US Dollar early yesterday as safe-haven trading escalated. However, in the past twelve hours, the USD/SGD has begun to see sellers emerge.
Singapore is on track to reopen its entire economy by the end of June, but limitations in the number of people permitted will remain in place.
Yesterday’s press conference by US Federal Reserve Chairman Powell dented misplaced optimism running rampant across the global financial system.
While optimism across financial markets remains unrealistically elevated about the gradual reopening of economies, the reality is distinctly different.
Singapore initiated the first phase of easing lockdown restrictions due to the Covid-19 pandemic.
Singapore banks will likely get plenty of attention as summer emerges.
Singapore is faced with negative interest rates as the one-month swap offer rate (SOR) fell below zero last Wednesday for the first time in nine years.
Singapore notes that the gradual reopening if its economy will be impacted by virus case numbers, testing and contact tracing, and the global condition regarding the Covid-19
Singapore’s Trade and Industry Minister Chan Chun Sing confirmed that the city-state is bracing for a more significant economic contraction than the previously forecast 4.0% annualized GDP slump.