-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessPeso Corrects Wednesday's Dip To 17-Year Low, BSP Rate Decision On Tap
Spot USD/PHP now changes hands -0.120 at PHP54.370 as a slide in the dollar index (BBDXY) after Asia hours Wednesday allows the cross to move away from a fresh cycle peak hit on the eve of BSP rate review. Bears look for a deeper correction past the nearest round figures of PHP54.000 and PHP53.500. Meanwhile, bulls need a move through yesterday's high of PHP54.615 to reassert their dominance and bring the PHP55.000 figure into play.
- USD/PHP 1-month NDF last -0.020 at PHP54.470, with bears looking for a sell-off past Jun 15 low of PHP53.330 and towards Jun 13 low of PHP53.000. Bulls would be pleased by a jump above yesterday's high of Jun 22 high of PHP54.760, which would clear the way to Oct 4, 2018 high of PHP54.800.
- Bangko Sentral ng Pilipinas will announce its monetary policy decision later today and in the wake of the latest round of comments from incoming Governor Medalla, we stand by our call for a 25bp hike to the key policy rate (see our preview to see our analytical piece and a summary of sell-side views).
- Just to recapitulate, Medalla said that the central bank is unlikely to raise the policy rate by more than 25bp today although he "doesn't know for sure how MBMs will vote." The official described peso depreciation as "more of a strong dollar than a weak peso story."
- His reluctance to address PHP weakness with more aggressive policy tightening helped spot USD/PHP rise to its highest point since 2005 on Wednesday, with broader risk aversion also playing a role here.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.