Analysis of recent Singapore dollar → Dollar forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Singapore dollar to US dollar performance and trends.
Forecasts for SGD to USD
Recent forecasts and currency market updates suggest a relatively stable outlook for the SGD to USD exchange rate in the near term. The Monetary Authority of Singapore (MAS) opting for an unchanged monetary policy in February is expected to contribute to a more stable Singapore dollar performance. Despite a disappointing start in January, the SGD is predicted to continue trading within a narrow range against the USD in February, with the pair mainly fluctuating between 1.34 and 1.35. Mixed domestic economic data from Singapore and US inflation levels have impacted market movements, leading to a consolidation in the FX market.
The US Dollar (USD) has been underpinned by reduced Fed cut bets, with expectations of a pushback on potential rate cuts by the Federal Reserve following strong US economic data, notably the blowout January jobs report. The anticipation that the Fed may delay rate cuts until later in the year has provided support for the USD against its counterparts. Although there are expectations of a rate reduction in June, markets are closely monitoring upcoming US economic indicators, such as the Consumer Price Index (CPI) and Retail Sales data, which could influence the timing of any rate adjustments. Given the stable trading range and restrained movement of the SGD to USD pair, coupled with the strong performance of the US economy, the near-term forecast suggests a steady performance for the exchange rate, pending any major developments in the global economic landscape.
@bestfxrates : 📈 Stable outlook for SGD/USD with MAS steady policy. Trading anticipated between 1.34-1.35. US jobs data supports USD, with market watching CPI & Retail Sales for rate cut clues. Analysts predict consistent SGD performance pending global shifts. #Forex #SGDUSD #MarketUpdate #CurrencyTrading
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Date
SGD/USD
Change
Period
13 Mar 2024
0.7507
1.2% ▼
2 Week
28 Dec 2023
0.7574
2% ▼
3 Month
28 Mar 2023
0.7531
1.5% ▼
1 Year
29 Mar 2019
0.7378
0.6% ▲
5 Year
30 Mar 2014
0.7943
6.6% ▼
10 Year
01 Apr 2004
0.5979
24.1% ▲
20 Year
SGD/USD historic rates & change to 27-Mar-2024
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Read our Currency guide to the United States - a practical currency and money guide to travel, living and doing business in the United States with the US 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