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Peso Rangebound Ahead Of Friday's CPI Report

PHP

Spot USD/PHP oscillates around unchanged levels, last changes hands at PHP51.044. Bearish focus falls on Jan 12/5 lows of PHP50.955/50.900 and a break here would expose the 50-DMA at PHP50.745. Bulls need a clearance of key resistance from PHP51.500 to gain the upper hand.

  • USD/PHP 1-month NDF last seen -0.010 at PHP51.150. Bears look for a dip through Feb 1 low of PHP50.830, while bulls would be pleased by a jump above Jan 18 high of PHP51.950.
  • The main focus on the data front falls on monthly CPI report, due tomorrow. It is expected that headline inflation decelerated to +3.0% Y/Y in January from +3.6% prior.

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