S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketMUFG’s Asia FX team keeps a constructive stance on the Singapore Dollar (SGD), arguing that a firm Chinese Yuan and resilient domestic growth should underpin SGD. With Monetary Authority of Singapore (MAS) maintaining its Nominal Effective Exchange Rate Index (S$NEER) policy settings and Singapore’s Q4 GDP likely to be revised higher.
SGD benefits from CNY and growth
“Against this backdrop, we retain a constructive outlook on the SGD and MYR, which should continue to benefit from firmer CNY sentiment and overall stable domestic macro fundamentals.”
“Singapore’s final Q4 GDP may show growth faster than the advance estimates, highlighting resilient domestic momentum.”
“MAS left its current monetary policy setting unchanged at its January policy review, maintaining the prevailing rate of appreciation of the S$NEER band with no adjustments to its width or the level at which it was centred.”
