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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessFinSec Dominguez Expects Return To Growth In Q2, BSP Watches Oil Prices
Spot USD/PHP has shed a handful of pips this morning and last sits -0.046 at PHP47.950. Bears need a break under May 19 low of PHP47.769 to gain a fresh impetus. Conversely, gains past May 27 high of PHP48.185 would open up the 100-DMA at PHP48.265.
- USD/PHP 1-month NDF last -0.060 at PHP48.060, with downside focus falling on May 14 & 17 cycle lows of PHP47.820. Bulls keep an eye on PHP48.310, which represents the high print of May 25.
- S&P affirmed the Philippines' sovereign credit rating at BBB+, with outlook left at stable. The agency said that the Philippines is expected to undergo "healthy" economic recovery, which will result in reductions of fiscal deficits over the next 2-3 years.
- BSP Gov Diokno said Thursday that inflation should remain within the target range this year and in 2022 despite rising oil prices, which nonetheless call for more vigilance.
- FinSec Dominguez said that the economy is expected to return into growth this quarter, amid a projected containment of the local Covid-19 outbreak.
- The local docket for next week features money supply & bank lending (Monday), Markit M'fing PMI (Tuesday) & CPI (Friday).
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.