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BSP To Publish Overseas Remittances Data

PHP

Spot USD/PHP trades at PHP48.443, slightly below neutral levels, with bears looking for a fall through Mar 12/three-week low of PHP48.370. A break here would clear the way to the 100-/50-DMAs at PHP48.248/48.236. Conversely, a jump above Mar 2 & 9 highs of PHP48.725 would allow bulls to take aim at the 200-DMA at PHP48.764.

  • The Philippine Star reported that "a coalition of former government officials is eyeing a single slate of national candidates for the 2022 elections to challenge administration bets and President Duterte's choice for successor."
  • The Philippine Stock Exchange said it will tighten regulations on reverse takeovers and backdoor listing.
  • The Philippines will release budget balance & overseas remittances data later today, with BoP report coming up Friday.
  • BBG survey expect overseas remittances to shrink 2.0% Y/Y, with estimates ranging from -5.5% to +8.0%.
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