17 Feb '17, 6am

Singapore Exports Surge Again as Demand from China Swells

Singapore Exports Surge Again as Demand from China Swells

Singapore’s exports rose again in January That makes a third straight month of gains But where the goods are going is as important The Singapore Dollar was steady against an already weaker US counterpart on Friday on news that is home’s export recovery continued in January, and largely thanks to Chinese demand too, which could have welcome repercussions way beyond the city state. Singapore’s Non-Oil Domestic Exports (NODX) rose 8.6% on the year in January, according to official data. That was below December’s 9.1% rise, and way below November’s 15.6% bonanza. But it was still a strong gain and much above the 7% or so which markets had expected. It was also a third straight rise. That will be a welcome sight for Singaporean policy makers after a very patchy 2016. Compared with December, exports rose a chunky 5%, more than reversing that month’s 2.4% slide. The meat of this ...

Full article: https://www.dailyfx.com/forex/market_alert/2017/02/17/Sin...

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