USD/SGD: Pullback should find support – OCBC

USD/SGD traded a touch softer this morning, easing slightly away from its near-2024 high. Pair was last at 1.36 levels, OCBC’s FX analysts Christopher Wong notes.

Signs of pullback move lower in the near term

“Daily momentum is mild bullish while RSI shows signs of turning lower from overbought conditions. Technically, there is still signs of pullback move lower in the near term, but dips may still find support.”

“Support at 1.3510, 1.3470 (21 DMA). Resistance at 1.3620, 1.3670 levels S$NEER was last at 0.93% above model-implied mid.”

Dec 20, 2024

Gold edges up, trimming some recent losses with US PCE inflation on focus

Gold (XAU/USD) is trading with a moderate positive tone on Friday following the sharp sell-off earlier this week.

China SMEI: Activity picked up in December – Standard Chartered

Headline SMEI recovered 0.2pts to 50.6 in December; average reading rebounded to above-50 level in Q4. While services activity improved, performance and expectations sub-indices stayed below 50. Manufacturing SMEs continued to outperform on a solid m/m increase in sales and new orders.