NCR+ Hospitals Add ICU Beds, Impact Of Vaccines To Be Seen By Oct/Nov

Spot USD/PHP has given away its modest opening gains and last trades -0.020 at PHP48.390. A fall through the 100-DMA, which limited losses on Apr 20 & today intersects at PHP48.280, would support the bearish case. Bulls look for a rally above the 50-DMA at PHP48.481 before taking aim at the 200-DMA at PHP48.536.

• Hospitals in the NCR+ bubble pledged to assign more ICU beds to Covid-19 patients but officials said that it was unclear whether restrictions in the region would be relaxed next month.
• The national Covid-19 task force suggested that the impact of vaccinations will be seen by Oct/Nov, once residents of densely populated areas become inoculated.
• Philippine Presidential Palace said that the country's leader Duterte will not be able to attend the ASEAN summit this weekend, but will sent Foreign Affairs Sec to stand in.
• The latest poll by Pulse Asia showed Davao City Mayor Sara Duterte as a preferred candidate to succeed her father as the Philippine President.
• Philippine overall BoP is expected in the coming days. Next week, budget balance hits on Tuesday, while money supply & bank lending are due Friday.