Free Trial
US TSYS

What Recession?

US TSYS

Eurodollar/SOFR/ Tsy Options Roundup

PIPELINE

Corporate Issuance Over $60B/Wk

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Spot USD/PHP Rises Towards Psychological Resistance

PHP

Spot USD/PHP last seen +0.038 at PHP52.959, approaching resistance from the round figure of PHP53.000/Jan 22, 2019 high of PHP53.040. A break here would shift bullish focus to Dec 20, 2018 high of PHP53.250. Bears look for a pullback under the PHP52.500 figure, a former key resistance level.

  • USD/PHP 1-month NDF last -0.020 at PHP53.160. Bears look for losses towards May 30 low of PHP52.230, while bulls keep an eye on Jun 6 high of PHP53.280.
  • Outgoing Finance Secretary Dominguez said it will take the Philippines another decade to return to pre-pandemic debt-to-GDP ratio. "If 40% is the ideal health, we not have long COVID or a minimum of 10 years to get back to that."
  • The Philippines' trade deficit moderated to $4.773bn in April from $5.007bn prior as annual growth in both imports and exports was slower than expected.
  • Focus turns to April labour market data, due for release on Friday.
148 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Spot USD/PHP last seen +0.038 at PHP52.959, approaching resistance from the round figure of PHP53.000/Jan 22, 2019 high of PHP53.040. A break here would shift bullish focus to Dec 20, 2018 high of PHP53.250. Bears look for a pullback under the PHP52.500 figure, a former key resistance level.

  • USD/PHP 1-month NDF last -0.020 at PHP53.160. Bears look for losses towards May 30 low of PHP52.230, while bulls keep an eye on Jun 6 high of PHP53.280.
  • Outgoing Finance Secretary Dominguez said it will take the Philippines another decade to return to pre-pandemic debt-to-GDP ratio. "If 40% is the ideal health, we not have long COVID or a minimum of 10 years to get back to that."
  • The Philippines' trade deficit moderated to $4.773bn in April from $5.007bn prior as annual growth in both imports and exports was slower than expected.
  • Focus turns to April labour market data, due for release on Friday.