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50-DMA In Play

PHP

Spot USD/PHP returned above its 50-DMA yesterday and now sits just shy of yesterday's peak, last -0.010 at PHP50.075. A rally above Aug 27 high of PHP50.145 would turn focus to Aug 19 high of PHP50.615. Meanwhile, a fall through Aug 31 low of PHP49.660 would shift focus to Aug 4 low of PHP49.605, a key layer of support.

  • USD/PHP 1-month NDF last seen +0.150 at PHP50.200. Bulls look to a move through Aug 19 high of PHP50.760, while bears keep an eye on Aug 31 low of PHP49.720.
  • Davao City Mayor Sara Duterte revealed that two senators, Bong Go and Sherwin Gatchalian, have personally offered to be her running mate in the 2022 presidential election. She also denied her father's recent claim that Senator Imee Marcos wanted to become her VP.
  • The national Covid-19 task force said that next year's election may be spread out over several days to avoid large gatherings of people in precincts.
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