Singapore Dollar: Consolidation near 1.28 with upside risks against US Dollar – OCBC

FXStreetAug 14, 2026 6:14 PM

View all comments（0）



OCBC’s Sim Moh Siong and Christopher Wong note USD/SGD is consolidating around 1.28 as softer United States (US) Producer Price Index (PPI) trims Federal Reserve (Fed) hike expectations but fails to trigger fresh US Dollar (USD) selling. While they still see downside risks over time, geopolitical tensions and the pair’s inability to break lower suggest the next leg down may be challenging.

Range trade, geopolitics and support levels

"USD/SGD remained subdued around 1.28 overnight. Softer-than-expected US PPI saw Fed hike expectations pared further and US Treasury yields eased, but the USD showed little follow-through to the downside."

"Geopolitical uncertainty may be partly tempering appetite to chase the USD lower, particularly heading into the weekend. Houthis claimed fresh drone attacks on Saudi Aramco’s Jazan refinery, while the US said it could maintain its naval blockade of Iranian ports indefinitely."

"We continue to see downside risks over time, but the pair’s inability to break lower despite softer US inflation data suggests the next leg down may not be straightforward. Weekend geopolitical risks may also keep some defensive USD demand in play for now."

"Pair last seen at 1.28 levels. Mild bearish momentum on daily chart intact while RSI was flat. 2-way trades likely in recent range."

"Support at 1.2770 (recent low), 1.2740 (61.8% fibo). Resistance at 1.2830/40 levels (100, 200 DMAs, 38.2% fibo retracement of 2026 low to high), 1.2870/90 levels (21, 50 DMAs, 23.6% fibo)."

(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

US September Nonfarm Payrolls Preview: Job Growth May Cool, How Will US Stocks, Dollar and Gold React?

TradingKey - On Friday, October 2 (Eastern Time), the US will release its September nonfarm payrolls report. The market will focus on whether job growth can sustain August's rebound and whether the data will alter expectations for subsequent Federal Reserve rate hikes.

Micron Q4 Net Profit Surges Over 10-Fold YoY as Gross Margin Beats Market Expectations at 86.8%; Shares Reverse Losses to Rise 2% After Hours

On September 30 Eastern Time, after Micron Technology (MU) released its fourth-quarter fiscal 2026 financial results (for the period ended September 3) after U.S. market close, its stock price reversed earlier losses to rise 2%. Micron's Q4 revenue reached $54.229 billion, up approximately 30.81% quarter-over-quarter from $41.456 billion in the previous quarter and up approximately 379.27% year-over-year from $11.315 billion in the same period last year. This surpassed market expectations of $51.5 billion, beating estimates by about 5.30%.

US Stocks Diverge as Dow Falls Over 400 Points; Tech Stocks Lead, Intel Rises 3.7%

The U.S. annualized PCE growth rate slowed to 3.4% in August, pushing U.S. Treasury yields lower. U.S. stocks ended mixed, with mega-cap tech stocks leading the gains. At the close, the Dow Jones Industrial Average fell 0.86% to 50,906.05, the Nasdaq Composite Index gained 0.24% to 26,861.06, and the S&P 500 Index slipped 0.25% to 7,651.54.

Tesla Stock Forecast: Shares May Face New Drop as Q3 Delivery Estimates Cut, Trump Plans to Relax Fuel Economy Standards

On September 28, Eastern Time, Tesla (TSLA) shares fell 3%, with the company expected to release its third-quarter 2026 delivery figures on October 2. Investment banks JPMorgan and Goldman Sachs both lowered their delivery forecasts, primarily due to weaker-than-expected performance in the U.S. and Chinese markets. Additionally, the Trump administration's plan to relax fuel efficiency standards has introduced policy variables to its automotive business.

The Week Ahead: US August PCE and September Nonfarm Payrolls Take Center Stage, Micron Earnings in Focus

TradingKey - In the coming week (September 28 to October 2, ET), US markets will face the most concentrated macroeconomic data window between late September and early October. Key reports—including the US August PCE Price Index, September Nonfarm Payrolls report, ADP employment, JOLTS job openings, and the ISM Manufacturing Index—will be released in succession, providing fresh evidence for the market to gauge the Federal Reserve's next interest rate path.

Featured Tools