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Deadline For Registering Candidacies For 2022 Elections Looms Large

PHP

Spot USD/PHP has been slightly heavy so far, last trades -0.087 at PHP50.785. Further sell-off past Oct 6 low of PHP50.619 would shift focus to the 50-DMA, which intersects at PHP50.266. Conversely, a clearance of the round figure/Sep 27 high of PHP51.000/51.036 would clear the way to Mar 18, 2020 high of PHP51.823.

  • USD/PHP 1-month NDF last seen -0.030 at PHP50.980. Bears look for a dip through Oct 4 low of PHP50.610, while bulls keep an eye on Sep 27 high of PHP51.520.
  • The deadline for filing Certificates of Candidacy (COCs) for the 2022 elections is drawing near. Presidential candidate Ferdinand Marcos Jr. revealed that he wanted President Rodrigo Duterte to be his running mate, before the incumbent leader announced his imminent retirement from politics. Marcos remains open to running with Bong Go, who has launched his vice-presidential bid. Elsewhere, at 11:00 local time Philippine Vice President Robredo will unveil her decision whether to run for president.

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