Frances Cheung, analyst at Westpac, expects the Monetary Authority of Singapore (MAS) to reduce the slope of its SGD NEER by 50bps, from a currently-assumed 1%, while keeping the centre and band width unchanged. Key Quotes “We also expect a dovish statement. Given the relatively high position of the SGD NEER with respect to the band (1.1% above midpoint), a reduction in the slope despite being priced in will still likely point to downside for SGD NEER. This is likely to translate into USD/SGD movement as room for SGD underperformance against regional peers may be limited, with the next resistance at 1.39.” “If the day turns out to be a riskoff one, safe-haven flows will likely counteract the SGD reaction to MAS easing. The rates and forward curves, meanwhile, appear fairly priced.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Forex News Today: Daily Trading News share Read Next US: UoM Consumer Sentiment Index rose to 96 in October (preliminary) FX Street 4 years Frances Cheung, analyst at Westpac, expects the Monetary Authority of Singapore (MAS) to reduce the slope of its SGD NEER by 50bps, from a currently-assumed 1%, while keeping the centre and band width unchanged. Key Quotes "We also expect a dovish statement. Given the relatively high position of the SGD NEER with respect to the band (1.1% above midpoint), a reduction in the slope despite being priced in will still likely point to downside for SGD NEER. This is likely to translate into USD/SGD movement as room for SGD underperformance against regional peers may be limited, with the next resistance… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
