Free Trial
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 changes hands +0.130 at PHP48.640 as we type, with bulls looking to take out Jun 24 high of PHP48.910, a key near-term resistance. Bears need a dip through yesterday's low of PHP48.460, before targeting the 200-DMA, which intersects at PHP48.279.
- USD/PHP 1-month NDF last -0.010 at PHP48.740. Initial downside focus falls on the 100-DMA/Jun 28 low at PHP48.433/48.430. Conversely, topside focus falls on Jun 24 high of PHP48.970.
- As flagged earlier, BSP Gov Diokno said this morning that the central bank sees June consumer-price growth at +4.3% Y/Y. Meanwhile, Philippine PPI fell 4.3% Y/Y in May, according to the latest update from the Philippine Statistics Authority, with the April reading revised to -3.9% from -3.0%.
- The Philippine Covid-19 task force shortened mandatory quarantine period for fully vaccinated Filipinos arriving from low-risk countries. They will now have to undergo a 7-day (rather than 14-day) isolation and take a PCR test on day 5 after arrival.
- Philippine bank lending data may hit the wires at some point this week, but there is no fixed time of the release. Markit M'fing PMI & jobs report will grab attention on Thursday.
Fig. 1: Philippine CPI Y/Y (%) vs. Philippine PPI Y/Y (%)
Dotted line represents Bangko Sentral ng Pilipinas' projection.Source: MNI - Market News/Bloomberg
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok