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Sell SGD: NEER above midpoint not justified - ANZ

FXStreet (Delhi) – Khoon Goh, Senior FX Strategist at ANZ, notes that the ECB easing announced last night fell short of market expectations, sending EUR sharply higher which saw the Singapore dollar rally, pushing the S$NEER above the midpoint based on our estimates.

Key Quotes

“We do not believe the S$NEER trading above the midpoint is justified, given the still poor growth outlook and lack of inflation in Singapore.”

“Therefore, we recommend buying USD/SGD at 1.3966, targeting 1.4250, with stop-loss at 1.3850.”

ECB underwhelms with the obvious financial market implications - MUFG

Derek Halpenny, European Head of GMR at MUFG, notes that the Governing Council of the ECB agreed to ease its monetary policy stance through numerous steps that were clearly below the consensus in the financial markets and below our more aggressive expectations of possible action.
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NZD: 25bp cut coming from RBNZ - TDS

Research Team at TDS, notes down their expectations from the forthcoming RBNZ meet on Dec 10.
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