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6 Sep 2021

Singapore: Manufacturing sector remains healthy – UOB

Economist at UOB Group Barnabas Gan reviews the latest PMI figures in Singapore for the month of August.

Key Takeaways

“Singapore’s manufacturing Purchasing Managers’ Index (PMI) reported by SIPMM fell marginally by 0.1 point to 50.9 in August 2021. Despite the decline, it remains in expansionary territory for the 14th straight month.”

“The decline in Singapore’s manufacturing PMI has been in line with how most of Asia had performed in the recent week.”

“Singapore’s decline in overall manufacturing PMI is likely due to a slightly softer external environment, as seen from the slower expansion rates in new orders, new exports and factory output.”

“Barring an exacerbation of vaccine-resistant COVID-19 infections in Singapore, the manufacturing sector is expected to be one of the key pillars of growth for Singapore. Singapore’s export-oriented industries are expected to ride on the winds of the global trade growth, which should subsequently benefit externally-facing sectors such as manufacturing, wholesale trade, and financial services. As such, we expect Singapore’s manufacturing sector to expand by 8.0% in 2021.”

Sep 6, 2021

AUD/USD: Scope for a recovery to resistance at 0.7608/40 – Credit Suisse

AUD/USD has closed firmly above 0.7428, securing an irregular basing structure to turn the short-term risks higher. The next key resistance is at 0.74
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Sep 6, 2021

EUR/JPY under pressure, clings to gains around 130.30

The offered stance in the Japanese yen motivates EUR/JPY to return to the positive territory at the beginning of the week. EUR/JPY focuses on the ECB
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