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Singapore Dollar: USD/SGD (SGD=X) increase in inflationary pressures linked to higher import prices

Singapore Dollar: USD/SGD (SGD=X) increase in inflationary pressures linked to higher import prices

For the June CPI, faster growth in non-cooked food item prices more than offset a slower increase in prepared meal costs, the MAS and MTI noted. The rise pushed food inflation up by 1.5 per cent in June, from 1.3 per cent in May.

Asian markets largely lost ground Monday as jitters grew over a potential trade and currency war, with the dollar sliding against most major currencies and extending Friday’s declines.

The fall in the dollar came as US President Donald attacked Washington’s main trading partners for their currency policies on Friday.

“, the European Union and others have been manipulating their currencies and interest rates lower, while the U.S. is raising rates while the dollars gets stronger and stronger with each passing day – taking away our big competitive edge. As usual, not a level playing field,” tweeted.

Trump’s combative stance has compounded fears of an all-out trade and currency war, with the US slapping tariffs on steel and aluminium from the EU, Canada and Mexico, in addition to levies on goods from worth tens of billions of dollars.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 1.38.

The projected lower bound is: 1.35.

The projected closing price is: 1.37.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 48.4847. This is not an overbought or oversold reading. The last signal was a buy 8 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 56.97. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 14 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 14. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 12 period(s) ago.

Rex Takasugi – TD Profile

FOREX SGD= closed up 0.003 at 1.365. Volume was 21% above average (neutral) and Bollinger Bands were 39% narrower than normal.

Open High Low Close Volume___
1.362 1.366 1.359 1.365 35,151

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 1.36 1.35 1.34
Volatility: 6 5 5
Volume: 37,633 31,774 26,302

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX SGD= is currently 2.1% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of SGD= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on SGD= and have had this outlook for the last 24 periods.