Singapore dollar virtually unchanged at $1.2658

A lacklustre session saw equities, commodities and foreign exchange do very little, says IG Markets Singapore.

IG Markets Singapore said:

The Singapore dollar saw little action last night with the US closed for Independence Day celebrations.
It was virtually unchanged at $1.2658.

Markets were relatively quiet last night on all fronts with trading volumes thin.

A lacklustre session saw equities, commodities and foreign exchange do very little.

Traders sat on the sidelines while assessing their next move with two key events looming.

Tonight we have an ECB decision on Eurozone interest rates while non-farm payrolls data is released on Friday night.

BK Asset Management meanwhile noted:

The first monetary policy announcement on Thursday will come from the Bank of England. After voting 5-4 to keep asset purchases unchanged, we are looking for the BoE to increase their asset purchase program by GBP50 billion to GBP375 billion.

Both the U.K. and Eurozone economies have suffered a further pullback in growth since the last central bank meeting but U.K. policymakers were much closer to easing in June than ECB officials.

However like many central banks around the world, a large part of their concern was caused by the uncertainty in Eurozone but the banking union announced by EU Leaders last week neutralized a lot of the risk in the market, reducing the pressure on the BoE to ease.

We still believe that the monetary policy committee will increase asset purchases and given that we share the consensus view, the greater risk for the British pound would be if the central bank left the size of their Quantitative Easing Program unchanged.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia