SGX Singapore News Update

SGX partners NIE to equip teachers with investment knowledge

Singapore Exchange (SGX) and the National Institute of Education (NIE), Singapore today launched an initiative to increase financial literacy and investment knowledge among teachers.

Driven by the Citi-NIE Financial Literacy Hub for Teachers and the SGX Academy, this programme will tap on NIE’s strength in curriculum design and pedagogy and SGX Academy’s expertise in finance and investments to deliver a structured financial education roadmap for teachers. The programme includes:
  • a comprehensive six-module investment education programme for teachers;
  • equipping teachers with knowledge in using online investment resources, such as SGX StockFacts and MyGateway; and
  • giving teachers free access to SGX Academy’s various investor education seminars and activities

The partnership is expected to progressively benefit more than 30,000 teachers and trainee teachers, providing them with personal and professional development by broadening their skill sets into the area of financial management and investments. Teachers who complete the full curriculum under the financial education roadmap will be awarded with a certificate from NIE. The estimated value of the SGX-NIE programme is around S$1.5 million.

Lynn Gaspar, Senior Vice President and Head of Retail Investors at SGX, said, “At SGX, we believe that knowing how to manage personal finances and investments is an important life skill to achieve financial independence. This is why we have partnered with NIE in this important initiative to empower teachers with financial skills, and through them, to educate and mould future generations into confident and effective investors.”

“As NIE moves towards becoming an institution of leading education programmes for teachers, we are heartened that our continual mission is supported by strong industry leaders in the global market. The programmes shared between Singapore Exchange and NIE will allow us to harness diverse real-time experiences to forge intuitive financial literacy skills for the teaching fraternity. These professional development inroads will pave the way for greater awareness in our schools,” said Prof Tan Oon Seng, Director, NIE.

SGX Singapore Closing Market Update

IT'S not often that the market behaves almost exactly according to script but this week was one such occasion. The main feature was the US Federal Open Markets Committee meeting over Tuesday and Wednesday and markets traded generally cautiously ahead of the event, given that US labour market releases have shown strength, which in turn implied greater urgency for interest rate hikes.

In the meantime, everyone watched to see if the word "patient" would be dropped from the post-FOMC meeting statement and as it turned out, it was dropped.

Although markets then rallied because the statement was supposedly more dovish than expected, it should be pointed out that throughout the past 8 years the Fed has taken great pains to accommodate Wall Street, so an overtly hawkish statement was hardly likely.

SGX IForex Recommendations

TRADING TIPS :
GBP/USD pulled away from 1.4796, the session low, to hit 1.4895 during European morning trade, still down 0.58%.Cable was likely to find support at 1.4721, Tuesday’s low and resistance at 1.5148, Wednesday’s high.The dollar regained some ground after broadly weakening when the Fed indicated on Wednesday that U.S. economic growth has moderated and that interest rates will rise at a slower pace than previously forecast .The pound trimmed losses against the U.S. dollar on Thursday, but remained under pressure as the greenback continued to recover from news U.S. interest rates will most likely remain on hold for longer than expected. The pound had dropped to nearly five-year lows against the greenback earlier Wednesday after the U.K. Office for National Statistics said that the rate of unemployment was unchanged at 5.7% in the three months to January,


INTRADAY OUTLOOK
Support: 1.4710
Resistance: 1.4770

RECOMMENDATION:
1. Buy GBP/USD Above 1.4772-TG: 1.4792/1.4822 SL 1.4742
2. Sell GBP/USD Below 1.4708-TG: 1.4688/1.4658 SL 1.4738

INTRADAY OUTLOOK
Support: 1.0670
Resistance: 1.0730

RECOMMENDATION:
1. Buy EUR/USD Above 1.0732-TG: 1.0752/1.0782 SL 1.0702
2. Sell EUR/USD Below 1.0668-TG: 1.0648/1.0618 SL 1.0698