MNI BRIEF: Case For ECB Cuts Strengthening, Accounts Show

MNI INTERVIEW2: Germany Faces Stagnation -Former Experts Chair

MNI BRIEF: Smaller Firms Split Over Wage Hikes - BOJ Report

MNI BRIEF: Monetary, Fiscal Policy Need Harmony - Campos Neto

CORRECTED-MNI: Changing Brazil Fiscal Target Not "Plan A"

MNI BRIEF: PBOC To Curb Any Overshooting Of The Yuan-MPC

EZ/UK Bond Supply Calendar: EU Auction And BoE Short APF Mon

US EIA:NAT GAS STORAGE -37 BCF TO 2,259 BCF MAR 29 WK

Feb Trade Balance Surprises With "Significant Growth" At +CAD1.4B

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Peso Loses Some Altitude

PHP

Spot USD/PHP has caught a light bid today, rising past last week's high, in a delayed reaction to the greenback's gains seen after onshore Philippine markets closed last Friday. The rate last operates +0.100 at PHP47.800.

  • From a technical point of view, bulls need a clearance of Jun 4 high of PHP47.882 would shift focus to the 50-DMA, which intersects at PHP48.101. Conversely, a dip through Jun 8 low of PHP47.640 would open up Jun 1 low of PHP47.615.
  • USD/PHP 1-month NDF last +0.030 at PHP47.870. A move through Jun 8 high of PHP47.930 would expose Jun 2 high of PHP47.980. On the flip side, bears look for a slide past Jun 7 low of PHP47.670.
  • Senator Drilon said that he will be seeking transparency over the gov't's pricing of Covid-19 jabs. CNN Philippines reported that "the Senate Committee of the Whole will resume its hearing to raise questions on the budget allocation for the pandemic response, following the request of Budget Secretary Wendel Avisado to add PHP25 billion more on top of the PHP82.5 billion already intended for the purchase of COVID-19 vaccines under the Bayanihan to Recover as One Act or Bayanihan 2".
  • Philippine overall BoP & overseas remittances are expected to be released at some point this week.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

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.