Recent analysis indicates a complex interplay between the Canadian dollar (CAD) and the Singapore dollar (SGD) exchange rate, especially amid fluctuating economic indicators and commodity prices. The CAD has faced headwinds lately, struggling to gain traction as domestic retail sales have slumped, which continues to impact investor confidence. Additionally, the CAD's correlation with oil prices remains significant; it finds support during periods of rising oil prices, but ongoing uncertainties—including geopolitical tensions and excess supply—have resulted in considerable volatility in oil markets. Currently, oil prices have reached 14-day highs around $65.94 but remain 1% below their three-month average.
On the other hand, the SGD's outlook appears relatively stronger, bolstered by Singapore's robust economic growth, which exceeded expectations at 2.9% year-on-year for Q3 2025. The Monetary Authority of Singapore (MAS) has opted to maintain its monetary policy settings, reflecting confidence in the economy's resilience despite global uncertainties. Furthermore, downward revisions on core inflation suggest more stable conditions, which could support the SGD in both local and international markets.
Market data shows that the SGD to CAD exchange rate is currently hovering near 14-day lows of 1.0776, within a stable range of 1.0669 to 1.0862 over the past three months. Analysts believe that should the Canadian economy show continued weakness—especially in light of trade negotiations and potential rate cuts from the Bank of Canada—it could create upward pressure on the SGD against the CAD. The loonie's dependence on oil pricing amidst fluctuating global economic conditions may further complicate its stance.
Experts suggest monitoring both oil price movements and economic indicators in Canada and Singapore closely, as these will play crucial roles in determining the trajectory of the SGD/CAD exchange rate in the near future.
