OCBC strategists Sim Moh Siong and Christopher Wong count on the Financial Authority of Singapore (MAS) to tighten coverage on 14 April 2026 by growing the Singapore Greenback (SGD) Nominal Efficient Trade Price (S$NEER) slope to counter imported inflation. With expectations skewed to tightening, they see scope for modest USD/SGD draw back on a hawkish tone, however extra muted response if messaging is balanced. Technically, they flag resistance at 1.2780–1.2850 and key assist at 1.2710 and 1.2620.
MAS determination and technical setup
“Our base case is for MAS to tighten coverage stance by growing the slope of the S$NEER coverage band (i.e. quickening the tempo of appreciation) to lean in opposition to rising imported inflation pressures.”
“Provided that expectations are skewed in direction of coverage tightening, the main focus is on the selection of coverage lever(s) and tone of the assertion.”
“A slight hawkish shift within the tone may see the S$NEER hovering close to the higher certain of the band whereas USD/SGD might even see modest knee-jerk draw back stress post-decision, assuming the broader USD pattern stays comparatively balanced.”
“But when the tone is extra balanced, then response on USD/SGD could also be extra muted.”
“Resistance at 1.2780 ranges (38.2% fibo retracement of Nov excessive to 2026 low), 1.2810 (21, 100 DMAs) and 1.2840/50 ranges (50% fibo, 200 DMA). Key assist at 1.2710 (23.6% fibo). Decisive get away places subsequent assist at 1.2620.”
(This text was created with the assistance of an Synthetic Intelligence device and reviewed by an editor.)
