Free Trial

Peso Stable Amid Light Local News Flow

PHP

Spot USD/PHP remains rangebound in early trade, last sits -0.014 at PHP47.873. Bears look for a dip through yesterday's low of PHP47.769 before taking aim at Feb 16 low of PHP47.721. On the flip side, a jump above May 11 high of PHP47.921 would expose May 5 high of PHP48.133.

  • USD/PHP 1-month NDF last +0.020 at PHP47.980. A break above May 17 high of PHP48.060 would turn focus to May 13 high of PHP48.130. Meanwhile, losses past May 14 & 17 cycle lows of PHP47.820 would support bearish case.
  • Pres Duterte discussed the tense geopolitical situation in South China Sea with PM Suga, who backed Manila in its dispute with China.
  • Health Dept said that the number of active Covid-19 cases dropped to the lowest number in over two months.
  • Philippine overall BoP is expected by the end of this week.

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.