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Aug 11, 2015

Singapore downgrades 2015 growth forecast to 2-2.5 percent

SINGAPORE (Reuters) – Singapore downgraded its 2015 gross domestic product forecast on Tuesday, and analysts said growth was likely to remain tepid in the second half with the outlook clouded by risks to global economic growth.

Gross domestic product fell 4.0 percent in the second quarter from the previous quarter on an annualised and seasonally adjusted basis, the Ministry of Trade and Industry (MTI) said on Tuesday.

Aug 11, 2015

Singapore narrows 2015 growth forecast to 2-2.5 percent

SINGAPORE (Reuters) – Singapore’s economy contracted in the second quarter as manufacturing activity declined, data showed on Tuesday, and the government narrowed its 2015 growth forecast citing downside risks to global growth.

Gross domestic product fell 4.0 percent in the second quarter from the previous quarter on an annualised and seasonally adjusted basis, the Ministry of Trade and Industry (MTI) said on Tuesday.

Aug 6, 2015

Singapore’s miracle economy wrestles with immigration in jubilee year

SINGAPORE (Reuters) – In five years, Singaporeans retiring will exceed those starting work. By 2025, the population could contract. The outcome: hiring gets tougher, firms move out and Singapore’s miracle economy gazes into a less lustrous future.

To avert the demographic crunch outlined in a government white paper about two years ago, immigration would seem like an easy fix. But instead the government has slashed foreign labor quotas following concerns among some Singaporeans that they are being cut out of the job market.

Aug 3, 2015

Dollar bulls take a breather, focus on U.S. factory data

SINGAPORE/SYDNEY (Reuters) – The dollar recovered slightly against the yen on Monday, after suffering a setback late last week when subdued U.S. wage growth clouded the outlook over when U.S. interest rates were likely to rise.

The dollar edged up 0.1 percent to 124.02 yen JPY=, steadying from Friday’s low near 123.50 yen, and still near the seven-week high of 124.58 yen set last week.

Jul 31, 2015

Dollar off post-GDP highs, but supported by rate rise view

SINGAPORE/TOKYO (Reuters) – The dollar backed off from a one-week high against a basket of currencies on Friday, but was still seen on firm footing after U.S. GDP data supported the case for the Federal Reserve to raise interest rates later this year.

The dollar index last traded at 97.358 .DXY =USD, taking a breather after rising to as high as 97.773 on Thursday, its strongest in more than a week.

Jul 29, 2015

Dollar eases vs yen ahead of Fed statement; kiwi edges up

TOKYO/SINGAPORE (Reuters) – The dollar eased versus the yen on Wednesday but held above a recent two-week low as investors awaited hints from the U.S. Federal Reserve on the timing and pace of future interest rate increases.

Ahead of the Fed’s policy statement due at 1800 GMT (2 a.m. EDT), trading could be swayed by month-end related flows, with Wednesday being the last trading day for settlement before the month end, traders said.

Jul 23, 2015

Singapore’s June consumer prices slip for eighth straight month

SINGAPORE (Reuters) – Singapore’s annual consumer prices fell for the eighth straight month in June, an outcome that could give the central bank room to ease policy if economic growth disappoints.

The all-items consumer price index (CPI) in June fell 0.3 percent from a year earlier, official data showed on Thursday, in line with the median forecast in a Reuters survey. In May headline CPI fell 0.4 percent.

Jul 22, 2015

Dollar pauses after rally, uptrend seen intact

SINGAPORE/SYDNEY (Reuters) – The dollar held steady versus a basket of major currencies on Wednesday, nursing losses suffered the previous day in its biggest one-day fall so far this month.

The dollar index traded at 97.304 .DXY as of 0530 GMT (1.30 a.m. EDT), having fallen back from a three-month high of 98.151 set on Tuesday, when it ended up falling about 0.7 percent.

Jul 21, 2015

Singapore’s says 2015 inflation likely to be at lower end of forecast

SINGAPORE, July 21 (Reuters) – Singapore’s central bank said
on Tuesday that headline and core inflation this year are likely
to be at the lower end of its earlier forecasts, but it expects
prices to pick up in 2016.

The risk of a further downgrade to the central bank’s
inflation forecasts is low, Monetary Authority of Singapore
(MAS) Managing Director Ravi Menon told a news conference.

Jul 20, 2015

Dollar buoyed by US rate rise view; Aussie hits 6-year low

SINGAPORE, July 20 (Reuters) – The dollar hit a three-month
high against a basket of major currencies on Monday, after solid
U.S. inflation and housing data supported expectations for the
Federal Reserve to raise interest rates in coming months.

The greenback is coming off its best weekly performance in
about two months, having risen last week after Fed Chair Janet
Yellen reiterated that U.S. interest rates will probably be
lifted later in the year.