Singapore Maintains Monetary Policy For Fifth Time; Cuts Inflation Outlookfxcue.com

(fxcue news) - Singapore's central bank left its monetary policy unchanged for the fifth consecutive meeting on Friday despite downgrading the inflation outlook. The Monetary Authority of Singapore decided to maintain the prevailing rate of appreciation of the S$NEER policy band. There will be no change to its width and the level at which it is centered. The MAS applies the exchange rate against a basket of currencies within an undisclosed band as its monetary policy tool. The central bank last tightened its policy in October 2022. The MAS today lowered its headline inflation outlook to 2.0 to 3.0 percent this year, from the previous forecast of 2.5 to 3.5 percent. The core inflation forecast was kept unchanged at 2.5 to 3.5 percent. The bank said core inflation is expected to "step down more discernibly" in the fourth quarter this year and into 2025. Softening import price inflation and easing domestic price pressures amid a moderation in labor cost growth helped to reduce inflation in the second quarter, the bank observed. Growth momentum is projected to improve in the second half of 2024. The bank expects growth to come in closer to its potential rate of 2-3 percent for the full year. Capital Economics economist Shivaan Tandon said policymakers are likely to lower the slope of the nominal effective exchange rate band to signal their preference for a slower pace of currency appreciation in the coming quarters.

Singapore Maintains Monetary Policy For Fifth Time; Cuts Inflation Outlook

U.S. Dollar Advances After PCE Inflation Data

Asian Shares Mixed After Upbeat US GDP Report

Canadian Dollar Drops As Oil Prices Dip

DAX Edges Up On Mixed Earnings

Canadian Market Up Firmly In Positive Territory

Singapore Maintains Monetary Policy For Fifth Time; Cuts Inflation Outlook

U.S. Consumer Sentiment Index Dips Slightly Less Than Previously Estimated In July

U.S. Consumer Prices Inch Up 0.1% In June

Please sign in

Trader

Gold operation strategy: Short sell gold at the 2648-53 line, stop loss at 2658, target at the 2612-2618 line, break below the 2606-2600 line;

Gold Strategy: 2645-2650 Short Selling Stop Loss 2658 Target 2630

Considering the rebound of crude oil operations today, short selling is the priority, with buying long at low prices as a supplement. Focus on resistance at $68.6-69.2 above and support at $67.0-66.0 below.

Sell directly near gold 2639, targeting 2622-2615-2606; If short selling is done in batches at three points: 2644, 2647, and 2654; If you buy more around 2622, 2615, and 2606 for the first time;

Spot silver can be bought long at the position of 30.2 today, with a stop loss set at 30. The target is first to look at 30.5 and 30.7, and if a break can be achieved, the target can be further focused on 30.9 and 31.2.

Spot gold trading recommendation for today's operation is to short one near 2650-2648, with a stop loss of 2656 and a target of 2640-2635. Buy one more time on the first retracement of 2620-2622, stop loss at 2615, target around 2635-2645.

Profit from gold trading

Profit from selling foreign exchange gold orders

Sell directly near gold 2630, targeting 2616-2608-2598; If sold in batches at four o'clock on 2633, 2637, 2642, and 2650; If it is given around 2616, 2608, and 2598 for the first time, it can be bought;

Gold intraday strategy: Buy near 2626-2629 Stop loss 2620 Target 2645

Tags

Singapore Maintains Monetary Policy For Fifth Time; Cuts Inflation Outlook

U.S. Dollar Advances After PCE Inflation Data

Asian Shares Mixed After Upbeat US GDP Report

Canadian Dollar Drops As Oil Prices Dip

DAX Edges Up On Mixed Earnings

Canadian Market Up Firmly In Positive Territory

Singapore Maintains Monetary Policy For Fifth Time; Cuts Inflation Outlook

U.S. Consumer Sentiment Index Dips Slightly Less Than Previously Estimated In July

U.S. Consumer Prices Inch Up 0.1% In June

Please sign in

Trader

Gold operation strategy: Short sell gold at the 2648-53 line, stop loss at 2658, target at the 2612-2618 line, break below the 2606-2600 line;

Gold Strategy: 2645-2650 Short Selling Stop Loss 2658 Target 2630

Considering the rebound of crude oil operations today, short selling is the priority, with buying long at low prices as a supplement. Focus on resistance at $68.6-69.2 above and support at $67.0-66.0 below.

Sell directly near gold 2639, targeting 2622-2615-2606; If short selling is done in batches at three points: 2644, 2647, and 2654; If you buy more around 2622, 2615, and 2606 for the first time;

Spot silver can be bought long at the position of 30.2 today, with a stop loss set at 30. The target is first to look at 30.5 and 30.7, and if a break can be achieved, the target can be further focused on 30.9 and 31.2.

Spot gold trading recommendation for today's operation is to short one near 2650-2648, with a stop loss of 2656 and a target of 2640-2635. Buy one more time on the first retracement of 2620-2622, stop loss at 2615, target around 2635-2645.

Profit from gold trading

Profit from selling foreign exchange gold orders

Sell directly near gold 2630, targeting 2616-2608-2598; If sold in batches at four o'clock on 2633, 2637, 2642, and 2650; If it is given around 2616, 2608, and 2598 for the first time, it can be bought;

Gold intraday strategy: Buy near 2626-2629 Stop loss 2620 Target 2645

Tags

关注我们的公众号