Local currency edges higher against peers

Singapore dollar trades basically unchanged despite ‘disappointing’ export data.

IG Markets Singapore reported:

The Singapore dollar edged higher against most of its peers, but still remains relatively range bound.

USD/SGD is trading either side of the 1.2240 support level, which seems to continue to hold back further SGD gains for the moment.

Non-oil Domestic Export (NODX) December trade data was released this morning and showed a marginal rise month on month, but a significant 16.3% drop compared to December 2011.

The monthly improvement of a seasonally adjusted 1.8% rise in non-oil exports was not as strong as had been forecast by Economists, who in a Reuters poll, had expected more than a 6% rise month on month.

The contraction in the electronic exports and pharmaceutical shipments were noted as areas of large decline and given that last year’s numbers were boosted by a number of rig deliveries, the 2011 numbers were always going to be tough to beat.

The reaction to this disappointing data has been relatively muted in the FX space with the SGD trading basically unchanged.

OCBC Treasury Research meanwhile noted:

The starkly disappointing Dec non-oil domestic exports numbers out of Singapore this morning may discourage outright SGD bulls in the near term with the SGD NEER currently around +0.88% above its perceived parity (1.2345).

At current levels, the extreme strong end of the NEER fluctuation band is estimated at around 1.2165, and this should provide a solid floor for the USD-SGD intra-day.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia