OCBC strategists Sim Moh Siong and Christopher Wong point out USD/SGD has eased, tracking a softer US Dollar (USD) and lower US Treasury yields despite firm US Producer Price Index (PPI) and retail sales.
MUFG’s Lloyd Chan notes that Singapore’s economy grew 5.4% year-on-year in Q3, moderating from 2Q but beating consensus. MAS left the S$NEER policy band unchanged, expecting AI-related demand to support near-term growth even as the positive output gap narrows. Core inflation is seen slightly above 2% until 1H 2027, with SGD likely to stay relatively resilient.
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that USD/SGD has retreated sharply after last week’s spike, but downside momentum remains limited.