EUR/SGD Trading forecasts and signals

July inflation in the eurozone countries amounted to 2.2% in annual terms, which is 0.3 percentage points higher than the growth rate of consumer prices in the previous month. This is evidenced by the final assessment of price dynamics published by Eurostat. The indicator corresponds to the preliminary data and the forecast of the surveyed analysts. In July last year, inflation in the eurozone was recorded at the level of 0.4%. The assessment of the price dynamics in monthly terms also did not change. Eurostat confirmed that in July, consumer prices increased by 0.7% compared to the previous month. At the same time, a month earlier, inflation was 0.9%. In the EU countries, inflation, calculated in monthly terms, has not changed. And compared to July last year, the price growth accelerated to 2.5% from 2.2% in June. In all countries that are part of the eurozone, consumer prices rose in July. At the same time, Estonia, Poland and Lithuania became the leaders in terms of ...

According to the Bundesbank, the recovery of the German economy from the negative consequences of the coronavirus pandemic can be achieved by this autumn, if vaccination is accelerated, which will allow lifting quarantine restrictions. A significant easing of the restrictions still in place in the country, according to the German central bank, is the main condition for accelerating the economic recovery in the third quarter to a level that will surpass pre-crisis GDP growth in the fall. For this to happen, significant progress must be made in vaccinating the population. The Bundesbank expects that by the end of the second quarter of this year, industrial production will significantly increase and construction volumes will significantly expand, and in the next quarter, we should expect a strong recovery in the service sector. At the same time, experts of the Bundesbank believe that the reduction in the value-added tax may increase inflation to 4% by the end of the year, which will not be observed for ...

Euro/The Singapore Dollar is a rare exotic cross–instrument of the international currency market with relatively little liquidity, which results in a considerable spread and volatility above the average level.The pair cannot be called a suitable tool for inexperienced traders, both because of the complexity of making a forecast and searching for intelligent analytics, and because of high volatility and large spreads of 20-25 points.Nevertheless, a professional trader, with due diligence and careful approach to analyzing the dynamics of the exchange rate, will be able to extract up to 200% profit per month from trading on EUR/SGD.EUR/SGD forecast for today onlineThis EUR/SGD forecast for today is based on technical analysis indicators with an integrated approach of more than 15 indicators.It is believed that making short-term price forecasts for timeframes less than H1 does not make much sense due to unpredictability and increased volatility, in addition, large spreads make the pair unsuitable for scalpers.There is also practically no ready-made analytics for this exotic cross-pair, due to its low popularity, employees of analytical departments of brokerage firms do not spend time and resources on a detailed study of such instruments as EUR SGD. There are also not too many fans of this pair on the forums, so choosing this asset for your trades, you will immediately have to tune in to the fact that all the predictive work will have to be done only by yourself.Read more: EUR/CAD: signals, forecasts, exchange rate chart (online) and quotesEUR/SGD exchange rate chart with online indicatorsAn analysis of the activity of a currency pair for 20 weeks shows that this instrument, although by a stretch, can be classified as highly volatile, since it can average 87-120 pips per day, and even 300-400 points or more at moments of important events.General characteristicsSGD As can be understood by the absence of the USD ticker, this currency pair is a cross. The combination of EUR/SGD indicates that in this case, the base currency of the Euro is purchased for Singapore Dollars, acting as a quoted currency. However, the direct absence of the US dollar in the pair does not mean that it does not affect it indirectly, since the purchase and sale of euros for Singapore dollars does not occur directly, but through USD.Quotes are displayed on charts in the standard form – four characters after the separator (1.5032) or five, as in terminals that take into account tick fluctuations for greater accuracy (1.50321).The most intense trading takes place on Thursday, but Wednesday is lagging very slightly in terms of volatility. The most inactive day, surprisingly, is Tuesday, not Monday, as for most other couples.Inside the day, EUR/SGD is most often traded from 09:00 to 18:00 GMT, which corresponds to the European and most of the American session, but at the opening of the Singapore stock exchange, activity is also quite high.What influences the EUR SGD exchange rate and factors influencing quotesThe European Union is a political and economic confederation of 28 European states. There is a common currency on the territory of the EU – the Euro, which is a legal tender, and also, for one reason or another, some participating countries retain their own national money. Generically , by sector , the European economy looks like this:About 70.5% is accounted for by the services and trade sector;Industry accounts for approximately 27.3% of GDP;Agriculture accounts for only about 2.1%.Read more: EUR/CHF: exchange rate, online quotes, signals and forecast for todayHowever, it should be remembered that the EU includes countries with very different economies and their level of development, so in some states the share of the service sector can reach almost 80%, while in others it hardly reaches 65%, the same applies to other industries. It is also worth considering aspects such as specialization and the region of the country's location.Forecast EUR SGD In contrast to the impressive size and heterogeneous structure of the EU, Singapore is a small and compact island-state (area less than 720 sq. m.), focused on services, international investment and high technology. An analysis of the economy by sector for Singapore provides the following data:Approximately 73.4% of GDP comes from services and trade;About 26.6% is provided by industry;Agriculture accounts for a very small share, not exceeding 0.1% of GDP.Forecasting the exchange rate of this pair is more complicated due to the presence of the euro in it in the absence of the US dollar, since the number of factors affecting the European currency is much greater than any other, due to the heterogeneity of the EU. The main factors affecting EUR against SGD should be called:Oil prices (which are important because they affect both the euro, the US dollar, and the currency of Singapore, since this country is actively involved in oil refining and the sale of petroleum products.);Interest rates, inflation, monetary policy, speeches and statements by the heads of the Central Bank of both countries;Economic indicators of the EU as a whole and the largest members of the union, in particular, Germany, France, etc., as well as the USA;Trade balances of both countries (but mostly Singapore);The level of business activity (for both countries).Read more: EUR/NOK: exchange rate, signals, online forecast for today & analysisAnalysis of EUR SGDAs for the correlation of EURSGD with the charts of other instruments, on the daily timeframe we see the following picture: the greatest correspondence is currently achieved with: CHF/SGD – 92.5%, EUR/ZAR – 87.4%, SEK/JPY – 85.4%, Natural gas (XNG/USD) – 80.6%, EUR/JPY - 74.2%, USD/MXN – 73.7%, CHF/JPY - 71.8%, USD/ZAR - 71.5%, EUR/AUD - 67.7%, USD/RUB - 63.3%.Negative correlation of the Euro/The Singapore dollar is most often and most strongly viewed not with other currency pairs, but with gold charts and stock indices: US30 – -88.5%, US500 – -85.6%, XAU/EUR – -79.8%, AUD/NZD – -77.4%, GER30 – -74.9%, XAG/EUR – -74.3%, ZAR/JPY -74.1%, XAU/AUD – -72.7%, as well as NAS100 – -72.7% and UK100 – -69.8%.Features of EURSGD currency pairThis pair is characterized by the difficulty in conducting a fundamental analysis, since the EU is not in the full sense a single country, but only a confederation of other states that were completely independent in the recent past and are still at varying degrees of economic and social development. Therefore, trading strategies based on serious fundamental research are suitable only for professional traders who are well versed in the global and European economy.Read more: EUR/AUD: exchange rate, online quotes, signals, forecasts & analyticsAlthough it is problematic to engage in classic scalping on EUR SGD due to impressive spreads, high volatility and frequent chaotic change of direction of movement throughout the day allow an experienced trader to trade quite successfully within the day, both on trend and ...