Free Trial

Peso Trades Flat, BoP Flips Into Surplus

PHP

Spot USD/PHP is treading water, last trades flat at PHP52.455. Should the rate manage to punch through the PHP52.500, bulls could take aim at Aug 15, 2019 high of PHP52.620. On the flip side, bears need a retreat under Apr 13 low of PHP51.875 before setting their sights on Apr 5 low of PHP51.149.

  • USD/PHP 1-month NDF last -0.020 at PHP52.630. Bears keep an eye on Apr 13 low of PHP52.020, while topside focus falls on Mar 14 high of PHP52.940.
  • The Dept of Health announced that the government looks to launch the rollout of second Covid-19 booster jabs for select sectors as soon as within "one to two weeks."
  • The Philippine BoP flipped into a surplus of $754mn in March from a $157mn deficit recorded in February.

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.