USD/SGD will continue to move higher in the following days

The pair will continue to move higher in the following days after it broke out from a downtrend resistance line. The US dollar will continue to surge as more US companies are due to report their earnings report. The better-than-expected results helped US indices to break their previous record and set a new all-time high price. In line with this, the US Manufacturing Purchasing Managers Index (PMI) will be reporting today, February 03. Analysts are anticipating positive results in relation to the earnings report. Meanwhile, Singapore Manufacturing Purchasing Managers Index (PMI) is flirting to post below 50-points result. A figure below 50 is an economic contraction while above 50-points is an economic expansion. In other news, Singapore and other Southeast Asian countries’ stock exchanges will continue to plunge. As of writing, the novel coronavirus cases exceed 17,000 nationwide stirring fears of a global economic slowdown.