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Metro Manila Prepared For Looser Restrictions

PHP

Spot USD/PHP changes hands +0.059 at PHP50.790 and bulls would be pleased by a swing past the round figure/Sep 27 high of PHP51.000/51.036. Bears look for a slide past the 50-DMA/Oct 8 low at PHP50.409/50.385 towards the 100-DMA at PHP49.977.

  • USD/PHP 1-month NDF last +0.070 at PHP50.920. Bulls keep an eye on Sep 27 high of PHP51.520, while bearish focus falls on the 50-DMA/Oct 7 low at PHP50.523/50.490.
  • The House of Representatives submitted the proposed PHP5.024tn 2022 national budget to the Senate this week, Speaker Lord Allan Velasco confirmed yesterday.
  • Elsewhere, the Dept of the Interior and Local Gov't noted that Metro Manila is ready to move to Alert Level 2 from the current Level 3 by November.

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