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Super Typhoon Approaches, BoP Data Eyed

PHP

Spot USD/PHP last trades +0.025 at PHP48.410, holding Friday's range thus far. A break above the 50-DMA at PHP48.455 would open up the 200-DMA at PHP48.570, a key near-term resistance. Bears look for a dip through Apr 6 low of PHP48.319, which would shift focus to the 100-DMA at PHP48.274.

  • The Dept of Health urged private hospitals to admit more Covid patients but pushed back against claims that it is trying to force them to do so.
  • Top defence officials denied rumours that a group of active and former military officers withdrew support for Pres Duterte over his policies on China's actions in the South China Sea.
  • The Philippine weather bureau warned against floods and landslides that are expected to be caused by Surigae (locally known as Bising), the first super typhoon of this year.
  • Bangko Sentral ng Pilipinas are expected to release overall BoP data at some point today.
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