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Duterte Wants Bold Vaccination Drive


Spot USD/PHP trades +0.010 at PHP50.603. A clearance of Oct 22 high of PHP50.907 would shift focus to PHP51.036, which capped gains on Sep 27. On the flip side, a retreat under Nov 19 low of PHP50.220 would open up Nov 15 low of PHP49.775.

  • USD/PHP 1-month NDF last +0.020 at PHP50.740. Bulls keep an eye on Nov 3 & 4 highs of PHP50.920, while bears see Nov 19 low of PHP50.290 as their initial target.
  • Pres Duterte instructed government officials to "use all available resources" to accelerate the upcoming vaccination drive scheduled for Nov 29 to Dec 1. Duterte said that he was "authorising all governors and mayors" to "just spend money." He added that individuals who refuse to be vaccinated should be banned from restaurants and resorts.
  • Philippine monthly budget balance should hit the wires at some point today.

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