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Metro Manila To Get Rid Of General Curfew

PHP

Spot USD/PHP trades on a firmer footing after probing the water below its 50-DMA yesterday. The rate last sits +0.178 at PHP50.563, with bulls setting their sights on Oct 22 high of PHP50.907, followed by round figure/Sep 27 high of CNH51.000/51.036. Conversely, a fall through the 50-DMA at PHP50.411 would open up the 100-DMA at PHP50.058.

  • USD/PHP 1-month NDF last seen +0.040 at PHP50.700. Topside focus falls on Oct 18 & 19 highs of PHP51.080 and a break here would expose Sep 27 high of PHP51.520. On the flip side, bears look for a dip through the 100-DMA at PHP50.287.
  • Metro Manila Development Authority (MMDA) approved lifting general curfew in the capital region from tomorrow, as officials want to prevent malls from overcrowding ahead of the holiday season.
  • Local data highlights during the remainder of this week include unemployment (Thursday) as well as CPI & trade balance (Friday).
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