FXstreet.com (Barcelona) -
USD/SGD is currently quoted at 1.2589, lower from session highs at 1.2616, still finding resistance below 0.38 retrace of last leg down 1.2713/1.2495. Session lows printed at 1.2580.
CPI figures just released came in line as expected at +4.8%, lower from previous +5.5% on yearly basis. Tomorrow will be out at same time 05:00 GMT manufacturing output numbers, which will likely contract by 0.7% in January from a year earlier vs a 12.6% rise in December, according to a median estimated in a Dow Jones poll among 11 economists.
For the nearest term, support to the downside below current session lows show at 1.2560 as past Friday's lows and Monday's highs, while to the upside closets resistance come at recent session and yesterday's highs around 1.2610, followed by 1.2630 as Feb 10 highs/0.68 retrace of previously mentioned down leg.
