Barnabas Gan, an economist at the UOB, reviewed recent knowledge of Singapore’s commercial and production sectors.
“Singapore’s commercial production surprised market expectations with a 13. 7% increase in a/a (13. 9% m/m sa) in August 2020. “
“Along with the continued demand for biomedical products, the combination of low reference printing in August 2019 and increased demand for virtual responses and semiconductor appliances were the main reasons for the August expansion. “
In particular, biomedical production grew by 8. 4% year-on-year in August 2020, offsetting the rate of contraction observed in the last two months, due to the call for exports of medical devices and increased production of biological products. »
“However, the low oil costs expected for the rest of 2020 are likely to depress chemical and transportation engineering groups. Meanwhile, COVID-19 points can continue to weigh on the production group in general.
“Given the wonderful uptime of august’s production rate, production expansion from the beginning of the year is now at a respectable 3. 1% to/a, compared to -0. 5% to/a from the same period last year. year-round commercial production outlook to an average of 2. 5% in 2020, above our previous outlook of -2. 0%. »
The GBP/USD pair continues to accumulate around 1,2900 amid greater possibilities for an industry agreement between the EU and the UK. Ramsden’s comments from the BOE gave the pound an extra touch as it rejected negative rates.
The EUR/USD pair trades about 1,1650, prolonging recovery after last week’s sharp fall. The dollar weakens with us stock index futures. But it’s not the first time That seem to inspire China’s optimistic data, the strength of the euro.
The decline in gold resumes in a positive market context, the USD uptick. Strong Chinese data, US stimulus hopes to increase threat sentiment. Bears target the DMA 100 at $1847 while gold remains vulnerable.
Bitcoin (BTC) adjusts hands to $10850, having earned more than 1% over its price day by day. The pioneering virtual currency reached a minimum of $10,137 on September 23 and resumed recovery.
The WTI is even though everything is clearly on its way to the domain of destruction. Monthly charts provide a sign that the upward movement is over. The existing wick of the candle, with 2 days and 22 hours before closing, will be filled down in the coming weeks.
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