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Nothing To Rock The Boat In Diokno's Comments

PHP

Spot USD/PHP has retreated and last operates -0.110 at PHP50.735, with latest round of BSP rhetoric providing little in the way of fresh insights. Bears look for further losses past Oct 14 low of PHP50.537 towards Oct 8 low/50-DMA at PHP50.385/50.364.

  • USD/PHP 1-month NDF last seen -0.160 at PHP50.870. Bears keep an eye on Oct 18 low/50-DMA/Oct 7 low at PHP50.520/50.491/50.490. Conversely, bulls look to a jump above Sep 27 high of PHP51.520.
  • BSP Gov Diokno told ABS-CBN that the central bank sees no need to adjust monetary policy settings through the rest of this year. His comments reflected a familiar stance of the Philippine central bank.
  • An expert advising the Health Dept said that Metro Manila could be moved to Alert Level 2 from the current Level 3 before Christmas.
  • As a heads up, Philippine budged balance will be published on Friday.

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