USD/SGD momentum switched to negative

Increased downward momentum in the USD/SGD has brought the 4hr MACD to step in the red zone.

This technical condition would certainly not be of much help if the MACD hasn't been under zero for at least one week of trading. This reinforces the argument that room for further USD/SGD depreciation is there.

The signal may be either taken by trend-following traders as a trigger to liquidate long positions as by potential sellers to prepare their short commitments.

Dec 21, 2015

RBNZ will welcome continued Fed hikes - Westpac

Analysts at Westpac noted that over the past week the Fed tightened rates for the first time in nine years, taking the target range for the Fed Funds Rate to 0.25–0.50%.

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Dec 21, 2015

MXN: To be affected by low oil prices and EM sentiment - BBH

According to analysts from Brown Brother Harriman, lower oil prices and generally negative Emerging Markets sentiment are likely to keep pressure on the Mexican peso in 2016.

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