Analysis of recent Aussie → Singapore dollar forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Australian dollar to Singapore dollar performance and trends.
Forecasts for AUD to SGD
The Australian Dollar (AUD) struggled in February due to changing global rate expectations and declining commodity prices, leading to pressure on the currency. The AUD tracked lower through early February, breaking below US$0.6450 following a robust US CPI inflation report. A softer-than-expected inflation print and lackluster Q4 GDP report silenced calls for an additional rate hike, with markets now anticipating possible rate cuts by the Reserve Bank of Australia (RBA). The AUD is expected to face continued pressure and fluctuate between 0.64 and 0.66 until a clearer path to US rate cuts emerges.
On the other hand, the Singapore Dollar (SGD) had a disappointing January but is expected to stabilize in February with the Monetary Authority of Singapore (MAS) opting for an unchanged monetary policy. In February, the SGD held steady against the US dollar within a narrow range, influenced by mixed domestic economic data and US inflation levels. Despite a 3-month low in mid-February due to elevated core inflation in the US, the SGD finished the month only marginally lower. Signals from the US Federal Reserve and local inflation levels in Singapore will be key factors to monitor in March for potential SGD movements. The AUD to SGD exchange rate, currently at 0.8796, is just 0.6% below its 3-month average of 0.8852, displaying a stable trading range from 0.8719 to 0.9037. Analysts anticipate the AUD and SGD to continue responding to global economic data and central bank policies in the coming months, influencing their exchange rate levels.
@bestfxrates : The AUD struggles amidst lower commodity prices & rate cut expectations, while SGD stabilizes with MAS's steady policy. AUDSGD trades near 0.8796, down by 0.6% from a 3-month average. Analysts eye US rate decisions & local data as key influences on future currency moves. #AUDSGD #FXMarket
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Compare & Save - Australian dollar to Singapore dollar
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Date
AUD/SGD
Change
Period
04 Mar 2024
0.8742
0.5% ▲
2 Week
19 Dec 2023
0.8981
2.2% ▼
3 Month
19 Mar 2023
0.9000
2.4% ▼
1 Year
20 Mar 2019
0.9600
8.5% ▼
5 Year
21 Mar 2014
1.1576
24.1% ▼
10 Year
23 Mar 2004
1.2693
30.8% ▼
20 Year
AUD/SGD historic rates & change to 18-Mar-2024
Will the Australian dollar rise against the Singapore dollar?
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Read our Currency guide to Singapore - a practical currency and money guide to travel, living and doing business in Singapore with the Singapore dollar.
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more