Initial jobless claims started to increase in December and forex traders should monitor this trend. It may provide an early warning sign of where the US economy is headed. Regional economic reports have shown weakness across the country. The US Dollar came under heavy selling pressure at the end of 2019, but will the trend continue in 2020? The USDSGD completed a breakdown below its horizontal support area, is more downside on the way? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

The fourth-quarter GDP out of Singapore expanded less than economists predicted, but third-quarter data was revised upwards. Singapore URA Property Index for the fourth-quarter matched the expansion in the third quarter. The Singapore Dollar has been the main beneficiary of protests in Hong Kong, but economic data has pointed to a slowing economy. Will the sell-off in the USDSGD accelerate with bears charging ahead, or will bulls step in and force a reversal? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair.