The final reading for second-quarter GDP out of the US is expected to confirm the previously reported data. The Fed’s preferred inflation gauge, the core PCE is predicted to remain at 1.7% annualized and below the 2.0% inflation target. With the slowing economy, inflation remains absent despite a tight labor market. Forex traders will also look forward to more housing data following yesterday’s upside surprise.The USDSGD just moved above resistance, will today’s economic data result in more upside or will price action correct to the downside. Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.

Singapore has moved further into the global spotlight, especially since the Hong Kong protests which resulted in asset reallocation into the city state. The Singapore Dollar has also gained more traction with forex traders. This morning’s data showed a disappointing reading in industrial production which extended its annualized contraction in another data point confirming the global economy is slowing faster than expected. The USDSGD moved higher, will a rally follow the release of US data? Today’s fundamental analysis will cover both directions of price action in this currency pair.