MNI BRIEF:Eurogroup Chair Sees France, EU Paring `25 Borrowing

RPT-MNI INTERVIEW: BOC Rate Cuts Justified: Ex Adviser Ambler

MNI: ECB LEAVES KEY DEPOSIT RATE UNCHANGED AT 4%

MNI China Daily Summary: Thursday, April 11

MNI BRIEF: EU Risks Damaging Trust With China - MOFCOM

MNI BRIEF: China Small Lenders To Cut Deposit Rates Further

MNI: USDA: 2023/2024 CORN PRODUCTION EST 15.34B BSL

US EIA:NAT GAS STORAGE +24 BCF TO 2,283 BCF APR 05 WK

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USD/PHP Close To Multi-Week Lows, All Eyes On Tomorrow's CPI Print

PHP

USD/PHP is a touch lower in the first part of trading. The pair back to the 54.80/85 region. We were at 54.90 in the early part of the session but the peso has benefited from a softer USD tone more broadly as the session has progressed. The pair is back sub all its key EMAs, with the 20-day at 54.95. Lows that prevailed in the first half of Feb in the 54.35/40 region could be targeted on the downside.

  • The positive equity tone is helping with Philippines equities mostly tracking higher through the first part of March (today +0.80% and back above the 6700 level). Offshore investors aren't participating yet though, with modest month to date outflows (-$47.7mn)
  • On the data front, all eyes rest on tomorrow's CPI outcome. The market looks for 8.9% y/y, (8.7% prior), while the BSP has a 8.5% to 9.3% forecast range.
  • BSP Governor Medalla noted at the end of last week, that a breach of the 9% handle could mean a 50bps hike at the March 23 meeting.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

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.