- Analytics
- News and Tools
- Market News
- USD/SGD to trade at 1.46 by year-end, turnaround unlikely for now – TDS
USD/SGD to trade at 1.46 by year-end, turnaround unlikely for now – TDS
The Monetary Authority of Singapore (MAS) only recentred the midpoint of the Singapore Dollar Nominal Effective Exchange Rate (S$NEER) policy band to its prevailing level, leaving the slope and width of the band unchanged. USD/SGD fell close to 1.42 on MAS action, though economists at TD Securities do not see a sustained turnaround in USD/SGD.
Buying USD on dips remains the best proposition
“MAS only re-centred the midpoint of the S$NEER band to its prevailing level, much to our surprise. There was no change to the slope and width of the S$NEER band. We also expected the slope to be raised by 50 bps but the MAS appears to be taking a more cautious approach to avoid over-tightening policy.”
“Post the MAS's decision, USD/SGD fell and was close to the 1.42 handle. We find USDSGD attractive at these levels as it is tough to expect a turnaround in USD/SGD for now.”
“Buying USD on dips remains the best proposition as the September CPI report suggest the Fed is unlikely to pivot but keep up with its aggressive effort to restrict its inflation-adjusted policy stance. As such, we expect USD resilience in Q4 and see USD/SGD at 1.46 by year-end.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
