HALISTER1: Singapore Dollar Slips Into Lower Half of Band Ahead of CPI Data

Singapore Dollar Slips Into Lower Half of Band Ahead of CPI Data

(Bloomberg) -- One week after Singapore’s central bank left monetary policy unchanged, SGD is moving into a range ~0.5%-0.8% below midpoint of its undisclosed NEER basket, Bloomberg strategist Mark Cranfield writes.
  • Since one day before MAS decision on Oct. 14, USD/SGD is up 0.9% to 1.3937; SGD/MYR is down 1.1% at 3.0091
  • Sept. CPI is seen at -0.3% y/y, unchanged from August, according to median est. in Bloomberg survey; data due 1pm local time Monday
  • Spread between SGD and USD 2-year interest-rate swaps tightening to 30 bps from 38.5 bps on Oct. 13; chart here
  • NOTE: Mark Cranfield is an FX strategist who writes for First Word. The observations he makes are his own and are not intended as investment advice.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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