FxWirePro: Dollar gains on cards as SBF reports sluggish survey; trade with binary calls

The Singapore Business Federation (SBF) and the DP Information Group's Business Sentiment Survey showed that business confidence among Singaporean SMEs is at its lowest since early 2013.

Among cited pressures were uncertainties in the global economy, a tough operating environment at home, and hiring pressures.

Industrial Production in Singapore decreased 5.80 pct in April of 2015 over the previous month. The IP MoM (industrial production) for May month is lined up for data announcement on 26^th June.

We would also argue that an uncompetitive exchange rate also means Singapore is not benefitting from global upswing in the IT cycle.

Exotic Trade Recommendations:

Buying USD/SGD binary calls at every dips may fetch straight 15-20 pips with ease.

ATM calls might be luring for many speculators as the bulls takes over the bears in rallies and trend for USD/SGD seems to be reversed.

It is also observed that volumes during the course of the day substantiate the upswings in price momentum.