Markets and Investing

Traders sold the greenback as they headed for risk currencies.

Mixed reactions on Wall Street and the poor Nikkei start are unlikely to provide any inspiration, says OCBC Investment Research.

The local currency has been one of the region’s best performers this year, says IG Markets Singapore, but has been stuck in a narrow trading range against the US dollar.

The big news locally, according to IG Markets Singapore, was the improved $53 a share Heineken offer for APB.

The local currency has failed to find any uplift from the improved sentiment in global markets, says IG Markets Singapore.

The rally on Wall Street overnight and the positive Nikkei start are expected to boost local sentiments, says OCBC Investment Research.

The US dollar has been edging up against the local currency along with other major currencies, says IG Markets Singapore.

SGD rates closed 5-6bp higher across the curve, says OCBC Treasury Research.

The US dollar sits at $1.2483 against the local currency.

The futures market hints at a weaker open however, says IG Markets Singapore.

Virtually unchanged, the local currency is expected to remain in a tight range against the US dollar.

The index closed 0.4% higher and is forecast to recover further.

Many will now be looking to MAS for clues to whether it may shift its policy ahead of its next meeting in October, says IG Markets Singapore.

On Friday the index traded sideways pretty much of the session before closing just 0.1% higher, says OCBC Investment Research.

The local currency could face further pressure after revised Q2 GDP figures were released, says IG Markets Singapore.

This after Chinese economic data was released during National Day celebrations, while local GDP figures have just been released.