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Fitch ratings affirm Singapore at 'AAA', outlook Stable

Earlier today, Fitch ratings agency affirmed Singapore’s credit rating at ‘AAA’, citing the following reasons:

Singapore's 'AAA' rating reflects a strong external balance sheet, which is supported by substantial current account surpluses, sound fiscal framework

Expects GDP to expand by 3.4% in 2018, forecasts GDP growth to stabilize at around 3.2% in 2019 and 2020

Over the medium term, continued recovery in the oil and gas sector could have positive spillover effects on growth in Singapore

Estimate Singapore's net foreign assets will be close to 76% of GDP at end-2018, significantly above historic 'AAA' median of -7.5%.

 

NZD/USD review: Two-year yield spread continues to drop in the NZD-negative manner

Currently, the NZD/USD pair is trading at 0.6523, having clocked a session high of 0.6531 earlier today. The recovery from the 32-month low of 0.6512
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USD/INR Technical Analysis: Minor pullback could be in the offing

Hourly chart Spot Rate: 72.66 Recent High: 72.68 Previous day's Low: 72.08 Trend: Overbought, pullback likely Resistance R1: 72.68 (previous d
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