The USDSGD quote used to be considered an exotic trading asset. Now that Singapore's economy is stronger, the demand for its national currency has grown in the Forex market.
This rate shows how many Singapore dollars one US dollar can buy. This trading instrument is dynamic, and its moves are relatively easy to predict. Besides, there are many analytical articles available on the internet, which makes forecasting easier. However, one shouldn't fully rely on the advice of others. It's better to examine the information and make one's own opinion. Both technical and fundamental analysis methods should be used to make realistic predictions.
This asset is the most active during the US and Asian trading sessions, i.e., almost the whole day. A considerable volume of trading operations allows trading throughout the entire trading week. If one considers the issuers' economic peculiarities, the USDSGD pair can yield substantial profits.
The US is a key actor in world politics, so the USD rate depends on the current situation in the global arena. Geopolitical factors also impact relationships with trading partners. The key sectors of the US economy are exports, industry, tourism, and services.
The Singapore dollar depends on the country's economic situation and inflation rate. The financial structure of Singapore is considered one of the world's most transparent and almost corruption-free, so inflation has remained low for a long time there. The country is also an active participant in global trade and exports electronic, household, and IT products.
So, the key factors that impact the USDSGD rate are international relations, central-bank rates and policy, and industrial indices.
Risk warning: Trading in FX and CFDs entails high risk of losing capital.
