FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Philippine Authorities Delay Relaxing Covid Curbs In Capital Region

PHP

Spot USD/PHP has crept higher today and last operates +0.092 at PHP50.102. A clearance of the nearby Aug 27 high of PHP50.145 would shift focus to PHP50.615, which represents the high print of Aug 19. Bears look for a retreat under Aug 31/Sep 3 lows of PHP49.660/49.659, before targeting Aug 4 low of PHP49.605.

  • USD/PHP 1-month NDF last seen -0.080 at PHP50.210. Bears keep an eye on PHP49.720, which limited losses on Aug 31/Sep 1, while bulls look for a rally above Aug 19 high of PHP50.760.
  • Although Philippine CPI accelerated sharply in August, BSP Gov Diokno said that the central bank will keep monetary policy settings accommodative as premature withdrawal of monetary stimulus would be costly. Diokno said that inflation is expected to average slightly above the +2.0%-4.0% Y/Y target range this year.
  • The authorities have postponed easing restrictions in the National Capital Region. Metro Manila will remain under Modified Enhanced Community Quarantine (MECQ) through Sep 15, but curbs may be relaxed earlier if the pilot scheme of targeted lockdowns is implemented before that date. The scheme was supposed to take effect today.
  • The economic managers will present the 2022 budget proposal to senators today, while Pres Duterte is expected to receive formal nomination for his party's 2022 vice-presidential candidate. Looking further afield, the Philippine Statistics Authority will release monthly trade data on Thursday.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.