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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 oscillates around the PHP48.000 mark after the release of the local labour market report. The rate last sits -0.035 at PHP47.997.
- Philippine unemployment rate eased further to 7.1% in March from 8.8% recorded in February, while underemployment slipped to 16.2% from 18.2% over the same period. Participation rate climbed to 65.0% from 63.5%.
- Philippine trade balance comes out Friday, while money supply & bank lending are expected to hit the wires by the end of this week.
- The Philippines extended its travel ban to travellers arriving from Pakistan, Bangladesh, Nepal and Sri Lanka. The rule will be in force from May 7 to 14.
- Bears look for the spot to slide through yesterday's low/61.8% retracement of the YtD rally at PHP47.959/47.943. Bulls would be pleased by a jump above yesterday's high of PHP48.133, towards the 100-DMA at PHP48.285.
- USD/PHP 1-Month NDF last trades flat at PHP48.130, hovering above yesterday's three-month low.
Fig. 1: Results From The March 2021 Labour Force Survey (LFS)
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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