Singapore Market Analysis: Singapore shares pause while DBS and USD/SGD hold firmer trends
The Straits Times Index (STI) closed at 5709.88, just below its 20-day average, while remaining above its 50-day average. USD/SGD is above both moving averages, with momentum still moderately positive. DBS Group is also above its 20-day and 50-day averages, although the wider Singapore market remains mixed. US employment, inflation and GDP releases could affect USD/SGD and influence regional sentiment over the next 48 hours.
What to watch today
- Straits Times Index (STI): 5704.37 support, 5727.01 pivot and 5751.67 resistance.
- USD/SGD: 1.2772 support, 1.2782 pivot and 1.2795 resistance.
- DBS Group: 77.41 support, 77.96 pivot and 78.65 resistance.
- Tuesday, 18:00 UAE: CB Consumer Confidence and JOLTS Job Openings.
- Wednesday, 16:30 UAE: Core PCE Price Index and Final GDP.
Technical analysis
Straits Times Index (STI)
Neutral 5,702.99 -0.45% liveThe Straits Times Index (STI) is consolidating near its 20-day average at 5710.99, above its 50-day average at 5687.16 and within the 20-day range of 5621.76 to 5828.50.
Daily candles, last 90 sessions. Green dashed = support, red dashed = resistance.
The Straits Times Index (STI) slipped 0.33% to 5709.88 and closed just below the 20-day average at 5710.99. It remains above the 50-day average at 5687.16 and the 20-day exponential average at 5700.44. The relative strength index (RSI), a momentum gauge, is 52.46, indicating broadly balanced momentum.
The daily pivot, a reference level calculated from the prior session, is 5727.01. A move above that level would bring the first resistance at 5751.67 into focus, followed by 5774.31. On the downside, the first pivot support is 5704.37, while 5679.71 is the next lower level. The 20-day high at 5828.50 and low at 5621.76 define the wider near-term range.
USD/SGD
Bullish 1.2785 0.00% liveUSD/SGD is above its 20-day average at 1.2724 and 50-day average at 1.2769, with its close near the upper half of the 20-day range from 1.2627 to 1.2811.
Daily candles, last 90 sessions. Green dashed = support, red dashed = resistance.
USD/SGD closed at 1.2778, above the 20-day average at 1.2724, the 50-day average at 1.2769 and the 20-day exponential average at 1.2749. The pair has gained 0.56% over 20 days, while the RSI is 56.01, showing moderately positive momentum without an extreme reading.
The daily pivot is 1.2782, with initial resistance at 1.2795 and the next level at 1.2805. Support is positioned at 1.2772 and 1.2759. The 20-day high at 1.2811 and 60-day high at 1.2955 provide broader reference points, while the 20-day and 60-day lows are both 1.2627.
DBS Group (D05.SI)
Bullish 77.95 -0.20% liveDBS Group is trading above its 20-day average at 77.58 and 50-day average at 76.21, near the upper part of its 20-day range from 76.31 to 79.05.
Daily candles, last 90 sessions. Green dashed = support, red dashed = resistance.
DBS Group closed at 78.00, slightly above the pivot at 77.96 and above its 20-day average at 77.58, 50-day average at 76.21 and 20-day exponential average at 77.34. The stock has risen 1.42% over 20 days, and its RSI of 59.42 reflects positive but not extreme momentum.
Initial resistance is at the pivot resistance level of 78.65, followed by 79.20. The 20-day and 60-day high is 79.05, creating a nearby range reference. Support is at 77.41 and 76.72, while the 20-day low is 76.31. The average true range (ATR), a measure of typical daily movement, is 0.90.
Market events (next 48 hours)
| Time (UAE) | Currency | Event | Impact | Forecast | Previous |
|---|---|---|---|---|---|
| Tue 29 Sep, 18:00 UAE | USD | CB Consumer Confidence | Medium | 89.2 | 89.4 |
| Tue 29 Sep, 18:00 UAE | USD | JOLTS Job Openings | Medium | 7.23M | 7.27M |
| Wed 30 Sep, 16:15 UAE | USD | ADP Non-Farm Employment Change | Medium | 73K | 38K |
| Wed 30 Sep, 16:30 UAE | USD | Core PCE Price Index m/m | High | 0.3% | 0.2% |
| Wed 30 Sep, 16:30 UAE | USD | Final GDP q/q | High | 1.5% | 1.5% |
| Wed 30 Sep, 16:30 UAE | USD | Final GDP Price Index q/q | Medium | 6.4% | 6.4% |
US releases are the main scheduled catalysts for the Singapore instruments over the next 48 hours. At 18:00 UAE on Tuesday, CB Consumer Confidence is forecast at 89.2 versus 89.4 previously, alongside JOLTS Job Openings at 7.23 million versus 7.27 million previously. These medium-impact releases can affect the US dollar and may therefore increase movement in USD/SGD.
At 16:15 UAE on Wednesday, ADP Non-Farm Employment Change is forecast at 73K versus 38K previously. At 16:30 UAE, the high-impact Core PCE Price Index is forecast at 0.3% month-on-month versus 0.2% previously, while Final GDP is forecast at 1.5% quarter-on-quarter, unchanged from the previous reading. Final GDP Price Index is also due at 16:30 UAE, with a forecast and previous reading of 6.4%.
Employment, inflation and growth releases can produce sharper moves in the US dollar and changes in broader risk sentiment. Traders may therefore see increased volatility in USD/SGD and indirect pressure or support for the Straits Times Index (STI) and DBS Group around the release times.
Algo insight: how a rules-based system treats today
A rules-based approach would treat the Straits Times Index (STI) as a range and moving-average decision zone because price is close to the 20-day average and the RSI is near 50. USD/SGD and DBS Group have firmer structures, with price above both the 20-day and 50-day averages, but confirmation around the pivot and nearby resistance remains important.
ATR helps estimate typical daily movement: 49.03 points for the Straits Times Index (STI), 0.0044 for USD/SGD and 0.90 for DBS Group. A system may use volatility-adjusted stop distances rather than one fixed distance, while reducing position size when the required stop becomes wider. These figures are risk-management references, not forecasts.
Because high-impact US releases are scheduled at 16:30 UAE on Wednesday, a rules-based system may avoid opening or adjusting positions immediately around that release window. It may also separate signal generation from execution during the 18:00 UAE Tuesday releases and the 16:15 UAE Wednesday ADP release, when short-term spreads and price movement can change.
