CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Peso Stable After Forecasters Narrow GDP Growth Estimate

PHP

Spot USD/PHP trades at PHP52.370, little changed on the day, after Philippine economic planners revised their growth forecast for this year. From a technical perspective, the PHP52.500 level continues to provide the next line in the sand on the topside. Meanwhile, bears look for losses past May 20 low of PHP52.126 and towards Apr 28 low of PHP51.970.

  • USD/PHP 1-month NDF last seen +0.030 at PHP52.460. Bulls look for a jump above May 12 high of PHP52.850, while bears keep an eye on the 100-DMA at PHP52.007.
  • The Development Budget Coordination Committee (state economic planner) narrowed its 2022 GDP forecast range to +7%-8% Y/Y from +7%-9% previously, citing "heightened external risks such as the Russia-Ukraine conflict, China's slowdown, and monetary normalisation in the U.S."
  • The Philippines' April budget balance will hit the wires at some point today.
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.