Spot USD/PHP changes hands -0.068 at PHP58.928, operating near the recent record highs located around PHP59.000, with bears looking for losses towards the 50-DMA at PHP56.653. USD/PHP 1-month NDF last +0.050 at PHP59.130, with topside focus on the all-time high of PHP59.460 & bears keeping an eye on the 50-DMA at PHP56.867.
- Offshore investors were net sellers of $11.74mn in Philippine stocks on Monday, but the PSEi bounced from cyclical lows. The index re-opened on a firmer footing today and last sits ~1.7% higher on the day.
- The Philippine Statistics Authority will publish consumer inflation data tomorrow. Headline price growth is expected to have accelerated to +6.9% Y/Y in September from +6.3% recorded the previous month.