The markets have been particularly quiet this Monday, April 12th, on the USDSGD. This happens because the participants of the Market are concerned about the next Consumer Price Index (CPI) to be released for the US economy this Tuesday, April 13th. The markets’ apprehension is due to the policy of the United States to print a lot of money to fight the economic consequences of the Covid-19 pandemic. Printing more money usually means easier access to credit and thus, more economic heat, which leads to inflation in the long run. Inflation could lead to increasing the interest rates for the US Dollar.
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From a technical point of view, the USDSGD seems to be ready to resume the uptrend, once it is near a support level on the daily chart. A breakout of the 1.3430 to the up side could bring the price all the way up until 1.3720, where it could face another important resistance.
