During 2020 the Singapore dollar strengthened against the US dollar from 1.3453 to 1.3211. The Singapore dollar’s modest appreciation despite the sharp decline in the dollar in 2020 reflected the impact of MAS’ neutral SGD NEER policy set in response to the COVID-19 shock. This neutral policy will set the tone for USDSGD trading for the entire year of 2021, setting constraints for Singapore dollar gains despite extended dollar weakness and potential improvements in current account surpluses. Further monetary easing is unlikely this year as fiscal policy is doing the heavy lifting.
Taking a look at our Trade Plan this week on USDSGD, we see a great spot for Bulls to enter now right around 1.32499 and expect areas of TP to be at 1.33667. This is not a usual pair we trade, however, when there's opportunity clearly seen, we must take them.
If you enjoy our analyses, please do comment and let us know how we're doing.
Taking a look at our Trade Plan this week on USDSGD, we see a great spot for Bulls to enter now right around 1.32499 and expect areas of TP to be at 1.33667. This is not a usual pair we trade, however, when there's opportunity clearly seen, we must take them.
If you enjoy our analyses, please do comment and let us know how we're doing.