Convert EUR to SGD
The exchange rate of the EUR/SGD currency pair experiences significant fluctuations on the release of important economic data from the Eurozone as well as from Singapore, including GDP, trade balance, inflation, employment, PMI readings from manufacturing and services sectors, industrial production and retail sales.
Changes to the monetary policy or interest rates by the European Central Bank (ECB) and the Monetary Authority of Singapore (MAS) influence the value of the EUR and the SGD respectively and drive price action in this forex pair. For instance, if the ECB hikes interest rates or adopts a more hawkish approach towards its monetary policy, the Euro strengthens and turns this pair bullish, and vice versa.
The EUR/SGD forex pair sees considerable volatility through the Asian and European sessions, when most market moving events from Singapore and Europe take place. This currency pair experiences most movement between 11:00 PM and 04:00 PM GMT, as a result.