Singapore Dollar: Upside risks with CPI and Warsh in view – OCBC

FXStreetJul 13, 2026 8:38 PM

View all comments（0）



OCBC strategists Sim Moh Siong and Christopher Wong observe that USD/SGD has turned slightly softer, tracking Renminbi (RMB) gains as the Dollar consolidates. They see risks skewed to the downside, with support at 1.29 and 1.2840 and resistance at 1.2980. With strong correlation to DXY, they expect USD/SGD to take cues from external drivers, especially United States (US) Consumer Price Index (CPI) and Fed Chair Warsh’s testimonies.

External drivers and technical setup

"USD/SGD was a touch softer, tracking gains in RMB while USD takes a breather."

"Pair was last at 1.2915. Momentum is mild bearish while RSI fell. Risks skewed to the downside for now. Support at 1.29 (61.8% fibo retracement of Nov high to Jan low), 1.2840 (50 DMA), 50% fibo). Resistance at 1.2980 (76.4% fibo)."

"On the SG data docket this week, 2Q26 GDP is scheduled for release on 14 Jul while NODX is release on 19 Jul."

"With correlation between USDSGD and DXY still significant, the pair is likely taking cues from external drivers – watch US CPI and Fed Chair testimonies closely."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Arm Holdings (ARM) Stock Forecast: Record Q1, Fell 34% in July, Now Breaking Out Above $280

TradingKey - Arm delivered record Q1 revenue of $1.289B (+22%) with data-center royalties doubling, then fell 34% in July on the AI selloff. Now it is breaking out above $280 to $286. The AGI CPU order book exceeds $2B. Here is the setup and what $294 requires.

Japan, South Korea Stocks Fluctuate as KOSPI Reverses Gains; SoftBank Falls Over 5%, Kioxia Drops 2%

TradingKey - On August 7, Japanese and South Korean stock markets opened higher and underwent volatile consolidation. The Korea Composite Stock Price Index (KOSPI) opened 1.1% higher at 6,365.07 points. Early gains expanded to as much as 1.85%, hitting 6,412.76 points, but the index subsequently surrendered most of those gains. It was last reported at 6,307.40 points, up 0.17%.

Today’s Market Recap: Middle East Tensions Weigh on U.S. Stocks, Brent Crude Surges Over 4%, SpaceX Jumps Over 6% on Lockup Expiration

TradingKey - Tensions in the Middle East have escalated once again, weighing on U.S. stocks and driving them lower. The three major indices closed lower across the board for the first time this week. At the close, the Dow Jones Industrial Average fell 0.85% to 53,885.10; the Nasdaq Composite dropped

US Stocks Close: Dow Drops 0.85% to End Five-Day Winning Streak; Memory Stocks Slump as Western Digital Falls 13%, SanDisk Drops 6% Post-Earnings

Market sentiment weakened following reports that Fed Chairman Warsh is considering a September rate hike and ahead of the non-farm payrolls report scheduled for release on August 7 ET. The three major indices all declined, with memory stocks suffering losses while oil stocks gained. At the close, the Dow Jones Industrial Average fell 0.85% to 53,885.10 points; the Nasdaq Composite Index dropped 0.06% to 26,348.35 points; and the S&P 500 Index declined 0.18% to 7,709.96 points.

July Nonfarm Payrolls Preview: Job Growth May Remain Low; How Will US Stocks, Dollar, and Gold React?

TradingKey - The U.S. Bureau of Labor Statistics will release the July non-farm payrolls report at 8:30 AM ET on August 7. Current market focus is centered not only on employment growth but also on the unemployment rate, average hourly earnings, and whether data from the previous two months will be revised downward again. These indicators will directly impact Federal Reserve rate hike expectations for September, as well as the trajectory of U.S. stocks, the U.S. Dollar, and gold (XAUUSD).

Featured Tools