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Peso Awaits First SONA From President Marcos

PHP

Spot USD/PHP eases off in early trade to last deal -0.098 at PHP56.200. Further losses past Jun 29 low of PHP54.600 would support the bearish case. Meanwhile, bulls look for a move towards the all-time high of PHP56.500.

  • USD/PHP 1-month NDF last +0.020 at PHP56.300. Bulls set their sights on Jul 14 record high of PHP56.740, while bears would be pleased by a sell-off towards Jun 28 low of PHP54.740.
  • President Marcos is preparing to deliver his first State of the Nation Address later today. Ahead of the key policy address, Marcos announced his decision to keep Rosalia de Leon as the Treasurer and formally appoint Raphael Lotilla as Energy Secretary.
  • FinSec Diokno said Friday that the new administration is planning to reduce its reliance on foreign borrowing. "We're shifting from 75:25 ratio to 80:20 in favour of domestic financing," Diokno said.
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Spot USD/PHP eases off in early trade to last deal -0.098 at PHP56.200. Further losses past Jun 29 low of PHP54.600 would support the bearish case. Meanwhile, bulls look for a move towards the all-time high of PHP56.500.

  • USD/PHP 1-month NDF last +0.020 at PHP56.300. Bulls set their sights on Jul 14 record high of PHP56.740, while bears would be pleased by a sell-off towards Jun 28 low of PHP54.740.
  • President Marcos is preparing to deliver his first State of the Nation Address later today. Ahead of the key policy address, Marcos announced his decision to keep Rosalia de Leon as the Treasurer and formally appoint Raphael Lotilla as Energy Secretary.
  • FinSec Diokno said Friday that the new administration is planning to reduce its reliance on foreign borrowing. "We're shifting from 75:25 ratio to 80:20 in favour of domestic financing," Diokno said.