CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

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CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

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MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Unemployment Rate Holds Steady

PHP

Spot USD/PHP trades -0.040 at PHP51.395, holding a narrow range. The 100-DMA at PHP51.155 provides the initial bearish target and a break here would open up Feb 23 low of PHP51.105. Bulls look for a rebound above Mar 31 high of PHP52.092.

  • USD/PHP 1-month NDF last +0.080 at PHP51.530. Bulls keep an eye on Mar 22 high of PHP52.790, while bears look for losses past the 100-DMA at PHP51.339 towards Feb 23 low of PHP51.110.
  • The latest Pulse Asia presidential poll provided no surprises. The gap between front-runner Ferdinand "Bongbong" Marcos Jr. (-4pp) and runner-up Leni Robredo (+9pp) shrank a tad, but remained wide enough (32pp) to keep Marcos comfortably in pole position.
  • The Philippines' unemployment rate stayed at 6.4% in February, as a 3.3pp increase in labour force participation was smoothly absorbed by the jobs market. Furthermore, the underemployment rate slipped to 14.0% from 14.9%.
  • Monthly trade data will hit the wires on Friday.
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