United States Institute for Supply Management (ISM) will release services Purchasing Managers' Index (PMI) on October 5, 17:00 GMT+3.
The US Treasury makes the Singapore dollar fall
We haven’t heard a lot on the Singapore dollar. Until today.
The US Treasury added Singapore to a watchlist for currency manipulation. The reasons behind this decision lie in the larger account surplus and net foreign currency purchases of around $17 billion in 2018, which equals to 4.6% of GDP. At the same time, the US Treasury avoided calling China a currency manipulator thus did not allow the further escalation of the US-China trade war.
After that, the Monetary Authority of Singapore commented that it does not engage in currency manipulation.
The USD/SGD pair has tested the resistance at 1.3819 since the beginning of the trading day. The next resistance lies at 1.3858. If the MAS takes measures to support its currency, the pair may fall back below the 1.38 level to the support at the central pivot at 1.3772. If we look at indicators, RSI entered the overbought zone and we can see its bearish divergence with the price.
The United States will publish the ISM Manufacturing PMI on September 1, at 17:00 MT time (GMT+3).
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Last week was full of surprises! Stock indices have shown significant growth…
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).