The USD/SGD currency pair settled above recent low of 1.2933, its weakest level since October 29th, after the delayed September PCE inflation data reinforced bets on another interest rate cut by the Federal Reserve next week.
Annual PCE inflation has accelerated to 2.8% in September, or the highest level since April 2024, from 2.7% in August. That figure came in line with market expectations.
And, annual core PCE inflation has eased to 2.8% in September from 2.9% in August.
The rate cut case has also been bolstered by weak US labor market data and dovish comments by Fed Governor Waller and New York Fed President Williams.
Markets are now pricing in about an 87% chance of a 25 basis point Fed rate cut in December, compared to an 85% chance a week earlier.
Markets are also pricing in three additional rate cuts by the end of 2026.
Meanwhile, retail sales in Singapore surged 4.5% year-on-year in October, picking up from a 2.8% increase in the previous month, the latest data by Statistics Singapore showed.
The exotic Forex pair lost 0.10% for the week.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
