The US Treasury makes the Singapore dollar fall

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.



What to Trade on August 29 - September 2?
What to Trade on August 29 - September 2?

Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.

Latest news

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera