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Spot USD/PHP remains within yesterday's range and last trades -0.050 at PHP48.018. Bears need a dip through May 19 low of PHP47.769 to regain control, while bulls look for a jump above May 5 high of PHP48.133, before targeting the 100-DMA at PHP48.265.
- USD/PHP 1-month NDF last -0.010 at PHP48.110, with bears looking for a slide through May 14 & 17 lows of PHP47.82. On the topside, the initial layer of resistance is provided by yesterday's high of PHP48.250, followed by the 100-DMA at PHP48.398.
- The Department of the Interior and Local Government (DILG) warned regional authorities that they would be held responsible for any Covid-19 super-spreader events detected in their localities.
- Health Undersec Vergeire that the Philippines may not reach herd immunity against Covid-19 by the end of the year.
- Philippine Treasury will publish budget balance today, there is no fixed time of the release.