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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.
PHP
Spot USD/PHP trades flat at PHP48.540, with bulls looking for a jump above the 200-DMA at PHP48.646 before taking aim at Feb 23 high of PHP48.755. Bears need a slide through Mar 30 low of PHP48.410 before targeting Mar 12 low of PHP48.370.
- In an emotional televised address, Pres Duterte warned of "bleak months," attributing the severity of the Philippines' Covid-19 outbreak to the fact that it is not a vaccine-producing nation.
- Comments on inflation from BSP Gov Diokno did the round this morning. Diokno said that BSP's inflation forecast for March is +4.2%-5.0% Y/Y, with a point forecast of +4.6%, as easing costs of food and electricity are expected to offset the impact of weaker peso and higher oil prices.
- Philippine bank lending and money supply data come out today. As a reminder, net lending has been shrinking since December, for the first time since 2006.
Fig. 1: Philippines Bank Lending Net of RRPs Y/Y (%)
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.
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