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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.
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Free AccessPeso Firms On Optimistic Covid Musings
Spot USD/PHP re-opened on a softer footing this morning, ticking further away from the nearby technical resistance from PHP51.500. The rate deals -0.075 at PHP51.310 after trimming some losses, with bears setting their sights on PHP50.955/50.900, which represent the low prints of Jan 12/5. Bullish focus remains on PHP51.500, which limited gains twice last week.
- USD/PHP 1-month NDF last seen +0.070 at PHP51.460. Topside focus falls on Jan 18 high of PHP51.950, while bears take aim at the 50-DMA, which intersects at PHP50.794.
- OCTA Research said that Covid-19 infections in Metro Manila appear to have peaked last week and it is possible that the capital region could move down a notch to Alert Level 2 by next month.
- On Thursday, the Philippines Statistics Agency will public December trade data and Q4 GDP.
To read the full story
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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.