EUR/SGD: indicates the rate of euro to the Singaporean dollar. An exotic and low-liquid instrument. Its volatility depends on economic events. It’s traded most actively on Wednesdays and Thursdays.
Factors influencing the rate:
- drop or growth of oil prices (SGD is closely connected to the USD, which is affected by oil prices in general);
- important economic data and news: monetary policy, interest rates;
- economic indicators of the EU countries;
- business activity index.
There’s a strong correlation of EUR/SGD with CHF/SGD, as well as with EUR/ZAR.