Selling some Singapore Dollars

Following some stellar returns over the past 30 days, many equity indices (Italy & Spain, both +25%, U.S. Midcaps +17%, FTSE 100 +17%, Korea’s KOSPI +16%) and some commodities (Brent Crude +31%, Heating Oil +29%, Cocoa +22%, Platinum +14%) are due for some mean reversion and little digestion……

the only clear ‘extreme’ that I see in macro global markets today is an Overbought Singapore Dollar (SGD) against the USD.

So at 0.7470, Sell your strong SGD and buy the weak, cheaper USD.

Incidentally, the Strait Times Index has risen 17% since the beginning of November.

November 27, 2020

by Rob Zdravevski

* the link to my disclaimer is below.

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