USDSGD

US dollar / Singapore dollar

On the agenda are the decision of the Central Bank of Russia on the interest rate, inflation in the Eurozone, the business climate and retail sales of the UK, the unemployment rate of Sweden and the trade balance of Singapore.

On the agenda are the FOMC meeting and the Fed interest rate decision, business activity in Japan, inflation in the UK and Sweden, manufacturing in the Eurozone, consumer confidence in Australia and the speech of the head of the RBA, Russia's GDP and the unemployment rate in Singapore.

On December 2, 2022, Nonfarm and other indicators of the US labor market, employment and unemployment in Canada and the speech of Bank of Australia head will be in the spotlight.

Goldman Sachs forecast the growth of the US dollar against Asian currencies. If the situation with the Fed’s interest rates will get clear during the first half of 2023, the strengthening of the dollar must stop. In that case, the U.S. currency will gradually begin to decline.

The midpoint of Singapore’s currency’s policy band has been adjusted to the prevailing level. The Monetary Authority of Singapore (MAS), whose main regulatory tool is the exchange rate, has performed this action as a result of the previous quarter’s report on the economic growth, which turned out to be better than it was initially suggested. The report also signaled that demand might be damped by raised prices and tightening of the financial environment.