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Philippines Starts Inoculating Key Workers, Mulls Looser Rules For Vaccinated Filipinos

PHP

Spot USD/PHP operates -0.041 at PHP47.698 at typing, extending Friday's losses. Jun 1 cycle low of PHP47.615 is in sight and a break here would open up Feb 15 low of PHP47.441. Bulls need a clearance of Friday's high of PHP47.882 before targeting the 50-DMA/May 27 high at PHP48.182/48.185.

  • USD/PHP 1-month NDF last +0.010 at PHP47.790 and gains past Jun 2 high of PHP47.980 would shift focus to May 15 high of PHP48.310. Bears look for a dip through PHP47.710, a fresh cycle low printed last week.
  • Philippine Dept of Health said that the local Covid-19 outbreak remains "manageable" and asked Filipinos to observe the current health protocols.
  • The Philippines begins the inoculation of essential workers against Covid-19 today. The category includes around 35.5mn workers employed in key sectors of the economy.
  • CNN Philippines reported that the Philippine Covid-19 task force considers relaxing protocols for Filipinos vaccinated against coronavirus.
  • Philippine unemployment hits the wires tomorrow, with monthly trade report coming up Wednesday.

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