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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 AccessLittle Changed After Philippine Unemployment Data
USD/PHP has meandered, unfazed by the release of Philippine unemployment rate, which fell to 10.0% from 17.7% in July. Head of the Philippine Statistics Authority commented that nationwide unemployment eased as the economy reopened, albeit double-digit unemployment is still observed in some key regional economic hubs, including the capital region.
- Philippine planning chief said that the nation must continue re-opening its economy to bounce back, per BBG.
- Spot USD/PHP sits +1 pip at PHP48.55. A break above Aug 27 high of PHP48.67 would please bulls, turning focus to Aug 20 high of PHP48.71. Conversely, a fall through Sep 1 low of PHP48.44, the worst level since 2016, would reinstate bearish momentum.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.