Halister News

(Bloomberg) -- Singapore’s March retail sales may recoup the losses seen in Feb., according to economists forecasts.

• Sales probably rose 3.6% y/y following a 3.2% decline in Feb., median est. in Bloomberg survey shows; ests. range from -0.5% to +7.1%; data due 1pm local time tomorrow
  • Drop in Feb. sales confounded median est. of a 3.4% gain; SGD rose 0.4% vs USD on April 15, day that data was released
• Excluding autos, March retail sales are seen falling 3.9% y/y, another survey shows, slowing from Feb.’s 9.6% drop
• 1Q GDP growth was flat compared with previous three months, data released on April 14 showed; that prompted the MAS to ease monetary stance that day by moving to zero appreciation on the currency in its trade-weighted basket
• SGD rose 4.3% vs USD in March, finishing the month at 1.3484; FX pair is now at 1.3682