EUR/SGD: Fundamental Review & Forecast We have an extremely rapid upward trend but it seems like the peak has been reached. It is difficult to imagine a more rapid upward trend than we can see on the EUR/SGD chart. The Euro strengthened against many currencies, but this did not lead to such a significant increase relative to another currency. At the moment it is likely that the price has reached a peak, especially amid disappointing statistics from the Eurozone. This week the market received data that indicates slower economic growth in the EU. Germany's GDP in the 2nd quarter amounted to only 0.8% yoy, while the market expected a GDP growth of 1.9%. The volumes of industrial manufacturing in the Eurozone fell in June by 0.6%, although this is in line with expectations. The eurozone's GDP is only 0.6% in Q2, which is also in line with the expectation of investors. Thus, the Euro doesn't have enough stimulus for growth. The Singapore dollar gets the opportunity to consolidate at least at the current levels and prevent a further falling in price. During the last five months the SGD has changed in price from 1.4845 EUR up to EUR 1.602. It should be noted that the Singapore dollar is now at the level of November 2015. This is another reason why we say that the peak has been reached. Next week the Singapore dollar can be supported due to the release of new statistics about industrial production volumes for July and the consumer prices index. The latest data on the economy of Singapore is showing a pretty good economic situation: retail sales in June grew by 1.9% and continue to grow for the fourth consecutive month.