The USD/SGD declined in Monday's session, mainly driven by the Greenback trading weak against its rivals amid dovish bets on the Federal Reserve (Fed)
USD/SGD trades below 1.3700 with 0.20 daily losses. Inflation in Singapore came in slightly lower than expected. The US Dollar trades soft ahead of high-tier economic figures to be released this week. and lower US Treasury yields.The SGD managed to hold its foot despite lower-than-expected inflation data released during the Asian session, and the focus shifts to key economic activity figures from the US to be released during the week.
On the data front, the US will release the S&P Manufacturing PMI from October on Tuesday, followed by the Q3 Gross Domestic Product on Thursday and the Core Personal Consumption Expenditures from September on Friday. USD/SGD Levels to watch Analysing the daily chart, USD/SGD exhibits signs of bullish exhaustion, contributing to a neutral to bearish technical perspective.
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