EUR/SGD settles below 1-week high, posts weekly loss

The EUR/SGD currency pair settled below Friday’s high of 1.5022, its strongest level since August 22nd, as market players digested the latest inflation data prints out of Euro Area’s largest economies.

In France, annual consumer inflation eased to 0.9% in August, preliminary data showed, or the lowest rate since May. The figure defied expectations of holding steady at July’s 1%.

In Spain, annual CPI inflation remained stable at a five-month high of 2.7% in August.

In Italy, annual CPI inflation eased to 1.6% in August from 1.7% in July.

And, German annual CPI inflation picked up to 2.2% in August, or the highest rate since March, from 2% in July. The figure came above expectations of 2.1%.

Meanwhile, producer prices in Singapore have dropped 2.4% year-on-year in July, the latest data by Statistics Singapore showed. It has been a fourth straight month of decline in domestic supply prices.

Still, July’s drop was slower compared to that recorded in June (-3.7% YoY).

The exotic Forex pair lost 0.10% for the week.