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Coronavirus Reproduction Rate Falls In Metro Manila

PHP

Spot USD/PHP trades +0.040 at PHP50.005 at typing after a firmer reopen, with bulls setting their sights on Sep 8 high of PHP50.315. A clearance of that level would shift focus to Aug 19/17 highs of PHP50.615/50.667. Bears would be pleased by a slide through Aug 31/Sep 3 lows of PHP49.660/49.659 towards Aug 4 low of PHP49.605.

  • USD/PHP 1-month NDF last +0.060 at PHP50.080. Bulls look to a move through Sep 7 high of PHP50.400, while bears see Sep 15/Aug 31 & Sep 1 lows of PHP49.730/49.720 as their initial targets.
  • OCTA Research Group said Thursday that the virus reproduction rate in Metro Manila has decreased to 1.28 this week from 1.39 recorded in the previous week.
  • Bangko Sentral ng Pilipinsas will deliver their monetary policy decision next Thursday, they are expected to leave policy settings unchanged.
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