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USD/SGD: 1.4400 is an immediate target – OCBC

The SGD NEER stands at around +0.38% above the perceived parity level (1.4373). Terence Wu, an FX strategist at OCBC Bank, takes a look at the USD/SGD outlook.

Key quotes

“With a potential turn in broad USD prospects, expect the USD/SGD to revert to an upside bias together with the rest of USD/Asia.” 

“With a near term bottom likely in place at 1.4200, expect the USD/SGD pair to reach for 1.4400 as an immediate target.”

 

USD/CAD recovers around 50 pips from daily lows, still in the red below mid-1.4100s

The USD/CAD pair dropped to fresh session lows, around the 1.4080 region in the last hour, albeit quickly recovered around 40-50 pips thereafter. The
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US ADP: Do not get your hopes up – BMO

Timing also counts. And regarding employment, it is all about timing. Jennifer Lee, a Senior Economist at BMO Capital Markets Economics, recaps the AD
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