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Consolidation Mode But Remains Bearish


Fails To Hold Onto Thursday’s High


'Big Tech' Bill Goes To Senate


Oil Up For Fifth Week On Supply Disruption, Geopolitics

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Spot USD/PHP trades -0.117 at PHP50.258, after printing its worst levels in more than three weeks this morning. Bears look for a slide through Nov 12 low of PHP49.860, while bulls keep an eye on Nov 26 high of PHP50.558, followed by Nov 22 high of PHP50.765.

  • USD/PHP 1-month NDF last +0.010 at PHP50.360. Topside focus falls on Dec 2 high of PHP50.700, while bears eye Dec 6 low of PHP50.160 for initial support.
  • The Philippine infectious diseases task force noted that they are not planning to implement a face shield mandate anytime soon, despite the emergence of a new, highly transmissible variant of the coronavirus.
  • The Philippine Statistics Authority will release monthly trade data on Friday.