USD/SGD Technical Analysis

The US Dollar keeps losing ground against the Singapore Dollar this Tuesday. The FED still did not give any clue about cutting the stimulus to the economy and the US President Joe Biden is trying to pass another big check to accelerate the infrastructure in the country. All those are pushing the US Dollar to the downside. This week’s most important macroeconomic indicator is the ISM PMI, which will be released later. Should the PMI number come lower than expected, this could accelerate the devaluation of the US Dollar against the Singapore Dollar.