HALISTER1: INSIDE SINGAPORE: Currency Falls Amid Broad-Based Dollar Gains

INSIDE SINGAPORE: Currency Falls Amid Broad-Based Dollar Gains

(Bloomberg) -- Singapore dollar slips in line with major currencies as BBDXY rises for a third day.
  • Currency falls 0.1% to 1.3491 per dollar
  • USD/SGD rising toward convergence of 50- and 100-DMA’s; click here for chart
  • Singapore non-oil domestic exports for June offered some “green shoots,” as five of top 10 NODX markets saw an expansion, versus three of 10 in May, Selena Ling, head of Treasury research & strategy at OCBC Bank wrote in July 18 note
    • Electronics and biomedical output have been improving of late according to IP data for January-May period and preliminary 2Q16 GDP growth estimates
    • Second-half NODX growth could improve to 1.6% y/y given a low base of -2.8% y/y in 2H15
  • SGD/MYR steady at 2.9483 with chart momentum studies turning higher from oversold territory; click here for chart
  • Yield on 10-yr govt bond fell 2 bps to 1.7180% on July 18, based on data compiled by Bloomberg and central bank
  • Three-month interbank-offered rate fixed at 0.87367% yesterday, lowest since July 2015
  • Six-month swap-offer rate up 1.7 bps to 1.13880% on July 18
  • Singapore Exchange to set up separate regulatory unit by 2017, which is an important step in managing potential conflict of interests, says MAS
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Selena Ling (Oversea-Chinese Banking Corp Ltd)

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