MNI BRIEF: JGB Reduction Scale To Be "Suitable" - BOJ's Ueda

MNI BRIEF: BOJ Maintains Econ, Inflation View Assessment

BOJ DECIDES TO CUT JGB BUYING; RELEASE DETAILS AT APRIL MEETING

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Higher At 7.1151 Fri; -1.51% Y/Y

MNI: FRANCE MAY HICP +0.1% M/M, +2.6% Y/Y

Services Inflation Pushed Higher By Concert-related Categories

MNI: SWEDEN MAY CPIF +2.3% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USD/PHP Firms, But 20-day EMA Threatening To Break Down Through 200-day EMA

PHP

Philippine markets have returned today. The early impetus has been for USD/PHP to gravitate higher relative to last Friday closing levels (55.395), last near 55.49 (+0.17%). This keeps us comfortably within recent ranges. Note Friday lows were at 55.28, which was a level last seen in early August of this year.

  • Recent highs rest at 55.61, while the 20-day EMA sits back near 55.87, which is threatening to fall through the 200-day EMA (55.90).
  • The Philippines Finance Secretary Diokno said over the weekend that the likely USD/PHP range was 53-57 over the medium term. Structural inflows and ample FX reserves support this backdrop (see this BBG link).
  • On the data side, we have budget balance data for Oct tomorrow, while on Thursday Oct bank lending figures are out.
  • Local equities are tracking higher, the PCOMP last above 6300, fresh highs back to mid October.
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.