Currency Alerts
10/27/2009 1:23 AM ET
(RTTNews) -
Tuesday, the Singapore dollar recovered from an early Asian session's 15-day low against its U.S. and Hong Kong counterparts and a 4-day low against the British pound. On the other hand, the Singapore currency showed choppy trading against the European currency.
Asian markets are trading weak today with investors indulging in some heavy selling following a negative close on Wall Street overnight. With more earnings reports scheduled for release over the next few days, participants appear to have chosen a cautious path, perhaps believing the markets have run up quite sharply on optimism about corporate earnings and global economy.
The Singaporean Straits Times is up by 0.42% at 2,647.66 points at 12:29 am ET.
The Singapore dollar that touched a 15-day low of 1.4011 against the US currency during Tuesday's early Asian deals strengthened thereafter. At 11:45 pm ET, the Singapore currency climbed to 1.3963 against the greenback, compared to 1.3980 hit late New York Monday. The next upside target level for the local dollar is seen around 1.387.
The Singapore dollar largely bounced between 2.0812 and 2.0777 against the European currency during early Asian deals on Tuesday. The pair that closed Monday's New York deals at 2.0798 is presently trading at 2.0803.
Against the British pound, the Singapore currency slipped to a 4-day low of 2.2872 during Tuesday's early Asian deals. Thereafter, the Singapore dollar reversed its direction and is currently trading at 2.2809 against the pound, compared to Monday's closing value of 2.2839. On the upside, 2.261is seen as the next target level for the Singapore dollar.
The Singapore currency gained ground after hitting a 15-day low of 5.5317 against the Hong Kong currency during early Asian deals on Tuesday. At 11:45 pm ET, the pair reached a high of 5.5505 with 5.585 seen as the next resistance level. The pair closed Monday's North American session at 5.5437.
In the European session today, the French consumer confidence Indicator, Italian consumer confidence index, Euro-Zone M3 money supply and the U.K. CBI Distributive Trades are due for release.
Across the Atlantic, the S&P/Case-Shiller home price index is scheduled to be released at 9 AM. Economists expect an 11.90% year-over-year decline in the 20-city composite house price index for August.
The Conference Board is scheduled to release its consumer confidence report for October at about 10 am ET. The report, which is based on a survey of 5,000 U.S. households, is expected to show that the consumer confidence index rose to 53.5 in October.
by RTT Staff Writer
For comments and feedback: contact editorial@rttnews.com
|