According to the latest official reports coming from Singapore, the local economy grew at the lowest pace over the last 3 years in Q3 2015. The revised GDP report indicated an 1.9% increase year over year. We remind you that the initial report came out at 2% while the analysts had anticipated 1.4%. This means that the revised report managed to outpace the forecast to come out stronger than expected, Market Leader reports.
Meanwhile, Signapore’s wholesale and retail sales are showing acceleration in terms of the pace of growth. In particular, the index improved by as much as 6.8% in Q3 2015 as opposed to 6.0% seen over the previous reporting period. At the same time, some experts report that Singapore’s economy may see a slowdown in 2016. As for this year, the local GDP is expected to grow by 2% over the entire year while next year’s figures are expected to slowdown to just 1% in 12 months.
Forex
Meanwhile, Masterforex-V Academy reports that the Singaporean Dollar keeps on going down against the U.S. Dollar and USDSGD is currently trading at 1,4129.
The closest major levels of resistance are the 1,4263 and 1,4363 highs.
The closest major levels of support are 1,3921 and 1,3724.
