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INTERNATIONAL CURRENCY BUZZ

Forex - U.S. Dollar Flat, Euro Rises Amid Geopolitical Concerns
Forex - Euro rises as Italian debt concerns ease; sterling builds on gains
Forex - GBP/USD could rebound further and test 1.3170 – UOB

EUR/USD

The U.S. dollar was flat against other currencies on Tuesday, as investors worried about Chinese-U.S. trade relations. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.03% to 95.09 as of 5:19 AM ET (9:19 GMT). Trade war tensions continued to worry investors. Robert E. Lighthizer, the United States trade representative met with European Union officials in Brussels on Monday to discuss trade tariffs. While Lighthizer called the talks “constructive,” a deal is not likely to be reached as soon as the White House administration would like. Meanwhile U.S. President Donald Trump wants to impose tariffs on almost all imported Chinese goods .China’s foreign ministry said on Monday that it would respond to any new steps on trade. The dollar rose against the safe-haven yen, with USD/JPY increasing 0.22% to 111.36. In times of uncertainty, investors tend to invest in the Japanese yen, which is considered a safe asset during periods of risk aversion.

GBP/USD

“GBP rocketed upon Barnier’s comment and took out last Friday’s peak of 1.3029 (overnight high of 1.3052). The rally appears to be running ahead of itself but there appears to be enough momentum for GBP to test the strong 1.3070 resistance first before it should settle down (next resistance at 1.3105 is likely out of reach). On the downside, only a break of 1.2965 would indicate that a short-term top is in place (minor support is at 1.2990)”. “GBP continues to trade in a volatile manner as it dropped to a low of 1.2898 yesterday before rocketing to hit an overnight high of 1.3052 (after Barnier’s comments). The overnight high was just above the top of our expected 1.2800/1.3050 consolidation range and the subsequent strong daily closing in NY suggests there is room for further GBP gains. That said, it is too soon to expect a shift to a bullish phase even though GBP could test 1.3170 from here. For now, we view any strength as a corrective rebound and not the start of a sustained up-move.

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Singapore Stocks Watch: STI resumes Monday at 3,118.42, down 0.5% on day

SINGAPORE stocks fell on Monday evening's exchanging resumption, with the Straits Times Index declining 15.97 focuses or 0.5 for each penny on the day to 3,118.42 as at 1.02pm.

Washouts dwarfed gainers 199 to 93, or around two securities down for each one up, as around 934.1 million securities worth S$394.7 million altogether changed hands.

The most effectively exchanged counter was Rex International, which increased seven Singapore pennies or 8.3 for each penny to S$0.09 with almost 75 million offers evolving hands.

Different actives included New Wave Holdings with 60 million offers exchanged at one Singapore penny each, and BlackGold Natural Resources with 25.3 units exchanged at 2.6 Singapore pennies each.

Dynamic list stocks by esteem included Golden Agri-Resources, which lost a large portion of a Singapore penny or 2 for each penny to S$0.25, and Singtel, which fell 3 Singapore pennies or 1 for every penny to S$3.10.

Singapore Stocks to watch: Keppel Corp, Keppel T&T, SPH, Vibrant Group, United EngineersTHE accompanying organizations saw new improvements which may influence exchanging of their offers on Monday:

Keppel Corp, Keppel T&T: Mainboard-recorded Keppel Corporation said early Monday that it has gone into consented to contingent arrangements to mutually create and work a high-accessibility server farm in Bogor close Jakarta with Indonesian combination The Salim Group. The assention was marked by Keppel and The Salim Group through the Alpha Data Center Fund (Alpha DC Fund), overseen by Alpha Investment Partners Limited (Alpha), and Keppel Data Centers Holding Pte Ltd.

Singapore Press Holdings: It has procured an arrangement of 14 reason assembled understudy convenience structures crosswise over six towns and urban communities in the United Kingdom for a money thought of about £180.5 million (S$321 million), it reported on Monday morning before the market opened. The structures, procured in a deal and buy concurrence with Unite Group plc, have an aggregate limit of 3,436 beds. They incorporate 10 freehold resources and four leasehold resources, and are situated in set up college towns and urban areas with extensive full-time understudy populaces, specifically London, Birmingham, Bristol, Huddersfield, Plymouth and Sheffield.

Lively Group: Eight backups of coordinations firm Vibrant Group are confronting a claim concerning a claim that they neglected to conform to certain installment and certification commitments, among others, under the fund reports identifying with a 500 million yuan (S$100.7 million) advance office for which they had given security. The suit was recorded by China Minsheng Banking Corporation Limited (Chongqing branch) in the Chongqing People's High Court against 12 parties, including eight of Vibrant Group's auxiliaries held through its completely claimed auxiliary Blackgold International Holdings Pty Ltd.

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FB to build $1b Singapore data centre, first in Asia

Facebook said on Thursday it will contribute more than $1 billion to construct its first server farm in Asia in Singapore, slated to open in 2022. Facebook's office will be situated in the west of the island, close where Google is extending its Singapore server farms in a $850 million venture as versatile development, online business and distributed computing request ascend over the area. "This will be our first server farm in Asia," Thomas Furlong, Facebook's VP of foundation server farms, said at a public interview with neighborhood experts in Singapore. He said the office was relied upon to open in 2022 relying upon the speed of development.

Facebook said in an announcement the 170,000 square meter office spoke to a speculation of more than S$1.4 billion ($1 billion) and would bolster several occupations. Facebook has various server farms in the United States and additionally Ireland and Sweden, and it is building an office in Denmark. "The server farm isn't nation particular to where clients are found… it's a dynamic procedure," said Furlong.

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