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EURJPY TECHS

Needle Still Points North

USDJPY TECHS

Bullish Argument Down, But Not Out

EURGBP TECHS

Attention Is On Resistance

EQUITIES

Stocks Higher as Stimulus Here to Stay

COMMODITIES

Gold Extends Uptrend, 200-dma Eyed

GBPUSD TECHS

1.4009 Needed For Bullish Signals

PHP

Spot USD/PHP trades flat at PHP48.07 as we type, struggling for any clear direction. It continues to hover within touching distance from the PHP48.00 mark, reluctant to attack the level. A move through there would bring Oct 20, 2016 low of PHP47.95 into play. Bulls need a clearance of Dec 22 & Jan 11 highs/50-DMA at PHP48.13/14 to gain a fresh impetus.

  • China's Foreign Min Wang met with his Filipino counterpart Locsin & Pres Duterte and announced that China will supply 500,000 doses of its Covid-19 jab to the Philippines. Wang also pledged that China will boost infrastructure investment in the Philippines, starting with a CNY500mn grant for infrastructure projects.
  • The Philippines will release its trade report for the month of December on Thursday.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com