Forex Analysis & Reviews: 28.06.2019 - GBPSGD: GBP to gain momentum...

Equipe InstaForex Loprais - Participante oficial do rali Dakar

This section features the most important information about trading with InstaForex. We provide both analysis from leading experts for experienced traders and articles on trading conditions for beginners. Our services will help increase your profit potential.

Become Trader

Abertura de Conta

Veja também

Condições de Negociações

Análise Forex

Gráficos

This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.

Start as Beginner

Como começar a negociar

Informação útil

Training and recordings

InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.

Become Investor

Sistema PAMM

Sistema ForexCopy

Investimentos passivos

Contas OYS

Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.

Become Partner

Página Principal

Área do Parceiro

Vantagens para Afiliados

Registro

This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.

All Promo Campaigns

Bonuses

Concursos

Eventos

Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.

Full details

Fórums

Estamos nas redes sociais

Humor Forex

Portal Forex

InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.

Learn More

História

Porque nos escolher

InstaSport

Regulamentação

Notícias da Empresa

Premiações

Estrelas da InstaForex

InstaForex Offline

Headquarters

Principais documentos

Responsabilidade Social

Equipe InstaForex Loprais - Participante oficial do Rali Dakar

28.06.2019 01:30 PM

GBPSGD: GBP to gain momentum over SGD. June 28, 2019

The Singapore dollar was the dominant currency in the pair while the pound sterling was trying to regain grounds. The quotes of the pair reached 1.7120 support area.

The Bank of England is still on its tightening bias towards a rate cut. The ultimate inflation target set by the BOE is 2%. Ministry of Trade & Industry estimated the Singapore economy expanded by 1.3% on a year-ago basis in Q1 2019, following the 1.9% growth in Q4 2018. Moreover, GDP growth of the UK was seen to be lower than expected indicating a weaker economic growth due to the global growth and ongoing Brexit uncertainties. CPI Inflation was 2% in May with Core CPI at 1.7%. The labor market remains tight in Q2 in line with expectations. The British currency weakened ahead of the BOE's interest rate decision and the release of the second reading of Q1 GDP growth rate.

The Singapore economy has slowed from the beginning of 2019. It is likely to expand at a modest pace in the coming quarters. Core inflation has become lower than expected due to weaker global oil prices and a stronger impact from the liberalization of the retail electricity market. Consequently, MAS is downgrading its growth forecast for MAS Core Inflation to 1–2%. The GDP growth is expected to come in slightly below the mid-point of the 1.5–3.5% forecast range in 2019. The labor market conditions remain firm and will support moderate wage increases. The unemployment rate for the Q1 kept unchanged at 2.2%. Private road transport costs are projected to be unchanged from while accommodation costs are likely to decline at a slower pace this year. Additionally, the industrial Production on monthly basis dropped to -0.7% from the previous value 2.1% and on a yearly basis, the value slid to 0.1% from -2.4%. The Consumer Price Index increased from 0.8 to 0.9 on an yearly basis. The Purchasing Managers Index is pending next week. The previous value was 49.9.

The Singapore dollar is expected to sustain gains over GBP but certain correction and volatility may occur after the G20 summit.

Now let us look at the technical view. The price is currently residing at the support area of 1.7120. It is expected to counter for certain retracement towards the dynamic level of 20 EMA as pullback and continue pushing lower towards 0.70 area with a daily close. As the price remains below 0.7200 area, the bearish bias is expected to continue.