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USDCAD TECHS

Consolidation Mode But Remains Bearish

AUDUSD TECHS

Fails To Hold Onto Thursday’s High

US

'Big Tech' Bill Goes To Senate

COMMODITIES

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.