{"id":119019,"date":"2025-03-17T23:28:08","date_gmt":"2025-03-17T23:28:08","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=119019"},"modified":"2025-03-24T18:58:17","modified_gmt":"2025-03-24T18:58:17","slug":"109428-usd-sgd-singapore-dollar-rises-after-beijings-plan-to-support-consumption","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109428-usd-sgd-singapore-dollar-rises-after-beijings-plan-to-support-consumption\/","title":{"rendered":"USD\/SGD: Singapore Dollar rises after Beijing\u2019s plan to support consumption"},"content":{"rendered":"<ul>\n<li><strong>Singapore dollar (SGD) rises for a second day<\/strong><\/li>\n<li><strong>China retail sales and industrial production data beat forecasts<\/strong><\/li>\n<li><strong>US Dollar (USD) falls on recession worries<\/strong><\/li>\n<li><strong>Retail sales rise by less than forecast 0.3%<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Singapore dollar (<a href=\"https:\/\/currencylive.com\/exchange-rate\/300-usd-to-sgd-exchange-rate-today\/\">USD\/SGD<\/a>) exchange rate fell on Monday after gains last week. The pair rose 0.21% in the previous week, settling on Friday at 1.3334. USD\/SGD trades -0.25% at 1.3301 and traded in a range of 1.3294 and 1.3348.<\/p>\n<p>The Singapore dollar is rising after being stronger than expected, as Beijing turns its attention to consumers to help cushion the impact of Trump&#8217;s trade tariff policies.<\/p>\n<p>Chinese retail sales rose 4% at the start of the year, ahead of forecasts and up from 3.7% in December. Household consumption in the first two months of the year was boosted by holiday spending during the eight-day lunar New Year holiday.<\/p>\n<p>Meanwhile, Chinese industrial production fell by less than expected, easing to 5.9%, down from 6.2% in December for the head of the 5.3% expected.<\/p>\n<p>Meanwhile, Beijing announced over the weekend a special action plan to support domestic consumption, including measures such as boosting wages and establishing a childcare subsidiary scheme.<\/p>\n<p>The US Dollar is falling across the board. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades at 103.40, down 0.3%, extending yesterday\u2019s losses.<\/p>\n<p>USD is falling across the board after weaker-than-expected US retail sales, raising concerns over the health of the US economy. US retail sales rose 0.3% month over month after falling 1.2% in January. Economists had forecast growth of 0.7%.<\/p>\n<p>The data shows a consumer seeking to rebuild a savings buffer amid rising concerns over job security and the economic outlook in light of Trump&#8217;s trade tariffs.<\/p>\n<p>While the data points to weak spending on goods, there&#8217;s no sign of a severe pullback just yet. However, companies, investors, and economists are cautious about the outlook, as sentiment sours and risks mount.<\/p>\n<p>The data comes ahead of Wednesday&#8217;s Federal Reserve interest rate decision centre bank is expected to leave rates unchanged.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore dollar (SGD) rises for a second day China retail sales and industrial production data beat forecasts US Dollar (USD) falls on recession worries Retail sales rise by less than forecast 0.3% The US Dollar Singapore dollar (USD\/SGD) exchange rate fell on Monday after gains last week. The pair rose 0.21% in the previous week, [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5647,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1381],"tags":[3717,1398,3312],"class_list":{"0":"post-119019","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-usd","8":"tag-sgd","9":"tag-usd","10":"tag-usd-sgd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/SGD: Singapore Dollar rises after Beijing\u2019s plan to support consumption - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/109428-usd-sgd-singapore-dollar-rises-after-beijings-plan-to-support-consumption\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109428-usd-sgd-singapore-dollar-rises-after-beijings-plan-to-support-consumption\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109428-usd-sgd-singapore-dollar-rises-after-beijings-plan-to-support-consumption\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/SGD: Singapore Dollar rises after Beijing\u2019s plan to support consumption\",\"datePublished\":\"2025-03-17T23:28:08+00:00\",\"dateModified\":\"2025-03-24T18:58:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109428-usd-sgd-singapore-dollar-rises-after-beijings-plan-to-support-consumption\\\/\"},\"wordCount\":343,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109428-usd-sgd-singapore-dollar-rises-after-beijings-plan-to-support-consumption\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100663-gbp-usd-pound-lacks-drivers.jpg\",\"keywords\":[\"SGD\",\"usd\",\"usd\\\/sgd\"],\"articleSection\":[\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2025\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109428-usd-sgd-singapore-dollar-rises-after-beijings-plan-to-support-consumption\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109428-usd-sgd-singapore-dollar-rises-after-beijings-plan-to-support-consumption\\\/\",\"name\":\"USD\\\/SGD: Singapore Dollar rises after Beijing\u2019s plan to support consumption - 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