EUR/SGD

EUR/SGD CFD is a product offered by OANDA, and is based on a currency pair that represents the value of the Euro against the Singapore Dollar.  

The Euro, issued by the Eurozone, is one of the world's major currencies. Its value is influenced by the economic performance of the Eurozone countries, monetary policy set by the European Central Bank (ECB), and overall global economic conditions.  

The Singapore Dollar, issued in Singapore, is managed by the Monetary Authority of Singapore (MAS) through an exchange rate policy, where it is allowed to fluctuate within a policy band against a trade-weighted basket of currencies.

Singapore's economy is heavily reliant on trade, finance, and manufacturing. Therefore, the EUR/SGD currency pairing will be influenced by the relative economic performance and monetary policies of the Eurozone and Singapore, and also the global trade environment.