Friday 29 Mar 2024
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BANGKOK (April 9): RBC Capital Markets recommends short SGD/MYR as the ringgit tends to perform well in the runup to elections, while the Singaporean central bank shouldn’t be in any hurry to join the global tightening cycle just yet.

* Co. recommends short SGD/MYR at 2.9405, target at 2.8820, with stop at 2.9700, strategists including London-based Adam Cole write in note

* While there have been positive signs in Singaporean labor market, inflation remains muted; earliest point at which tightening is realistic would be October, although recent Singaporean budget has created expectations that MAS may exit its neutral policy as soon as this week

* NOTE: SGD/MYR rises 0.2% to 2.9414 as of 11:31am in Singapore

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