Singapore Stocks (SGX) Market News

Friday’s European and US sessions saw the euro hold itself above 1.45, having surpassed the 1.42, 1,43, 1.44 levels earlier in the week. This occurred as traders celebrated the passing of Greece’s austerity measures and correspondingly priced out the potential for an imminent default. With this disaster averted (at least for the time being), the currency was pushed higher on improving risk sentiment and the prospects of an ECB rate hike later this week, where the market is fully pricing in a 25 basis point lift in the cash rate. European inflation data, retail sales and Jean-Claude Trichet’s press conference will be the key drivers of the euro this week, as will Friday’s US non-farms payroll report. The pair currently sits at 1.4560. Cameron Peacock, Australia