Free Trial
USDCAD TECHS

Northbound

US TSYS

FI Support Evaporates Amid Late Month End Selling

AUDUSD TECHS

Remains Vulnerable

CANADA

Late Risk Off Sees USDCAD Eye Cycle Highs

US TSY OPTIONS

BLOCK, Late Puts

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 Access

Peso Holds Familiar Range

PHP

Spot USD/PHP trades -0.142 at PHP55.530, falling for the first time in four days, which is a function of weaker than expected U.S. CPI data released overnight. Still, the rate respects a range well known from the past couple of weeks. From a technical perspective, bears keep an eye on Jul 29 low/50-DMA at PHP55.057/55.012, while bulls see Jul 28 high of PHP55.975 as their initial target.

  • USD/PHP 1-month NDF last +0.100 at PHP55.640. Topside focus falls on Jul 28 high of PHP56.060, while bears look for losses towards Jul 29 low/50-DMA at PHP55.170/55.146.
  • The Philippines' 5-year CDS premium tightened the most since March on Wednesday, falling below 100bp (last ~95bp).
  • Foreign investors were net sellers of Philippine stocks for the fourth consecutive day on Wednesday, but net daily equity outflows shrank to PHP119.4mn.
  • OCTA Research group said that the current wave of COVID-19 infections in Metro Manila is expected to peak next week.
  • Looking ahead, Bangko Sentral ng Pilipinas will deliver its monetary policy decision next Thursday.
163 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Spot USD/PHP trades -0.142 at PHP55.530, falling for the first time in four days, which is a function of weaker than expected U.S. CPI data released overnight. Still, the rate respects a range well known from the past couple of weeks. From a technical perspective, bears keep an eye on Jul 29 low/50-DMA at PHP55.057/55.012, while bulls see Jul 28 high of PHP55.975 as their initial target.

  • USD/PHP 1-month NDF last +0.100 at PHP55.640. Topside focus falls on Jul 28 high of PHP56.060, while bears look for losses towards Jul 29 low/50-DMA at PHP55.170/55.146.
  • The Philippines' 5-year CDS premium tightened the most since March on Wednesday, falling below 100bp (last ~95bp).
  • Foreign investors were net sellers of Philippine stocks for the fourth consecutive day on Wednesday, but net daily equity outflows shrank to PHP119.4mn.
  • OCTA Research group said that the current wave of COVID-19 infections in Metro Manila is expected to peak next week.
  • Looking ahead, Bangko Sentral ng Pilipinas will deliver its monetary policy decision next Thursday.