Singapore Stocks (SGX) Market News

Having enjoyed more than a 3 cent rally over the course of the week, the AUD took a bit of a breather overnight, but still managed to hold itself above the 1.07 mark. Ending the Australian session around 1.0735, in the aftermath of the successful Greek austerity vote, the AUD drifted over the European session, falling to a low of 1.0697 before recovering as US equity markets enjoyed their fourth straight day of gains. Ending US trade at 1.0714, the AUD re-opened the Asian session relatively flat, but fell back below the 1.07 level after weaker-than-expected Japanese Tankan and Chinese manufacturing PMI numbers. Given the AUD has enjoyed a significant ’risk on‘ bounce this week, and with interest hike rate expectations being pushed further out along the curve, it would not be surprising to see some short-term profit taking in the AUD. The pair currently sits at 1.0697. Cameron Peacock, Australia