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USD/SGD: Upside risk – OCBC

USD/SGD extended its bull run, tracking moves in broad USD. Pair was last at 1.3475 levels, OCBC’s FX analysts Frances Cheung and Christopher Wong note.

Risk skewed to the upside

“Trend is your friend and trump trade is the trend for now. Risks remain skewed to the upside. Daily momentum is mild bullish while RSI rose. Risk skewed to the upside.”

“Resistance at 1.3520 levels. Support at 1.3340 (200 DMA), 1.3290 (61.8% fibo retracement of Jun high to Oct low). S$NEER was last at 1.25% above model-implied mid.”

AUD: Labor market only slightly weaker – Commerzbank

Australia's labor market cooled slightly last month, with only around 16,000 new jobs created in October, less than analysts had expected, according to the Bloomberg consensus.
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Banxico about to cut interest rates again – Commerzbank

This evening, European time, the Mexican central bank (Banxico) will announce its regular interest rate decision - anything other than another 25bp cut would be a big surprise.
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