Free Trial

USD/PHP In Close Proximity To One-Year High

PHP

Spot USD/PHP reopened on a softer footing, but has recouped its initial losses and last changes hands +0.039 at PHP49.226. A move through Jul 2 high of PHP49.260 would turn focus to Jul 23, 2020 high of PHP49.467. Bears see Jun 29 low of PHP48.460 as their initial target.

  • USD/PHP 1-month NDF last seen -0.010 at PHP49.340. Downside focus falls on Jul 2 low of PHP48.930, followed by the 100-DMA/Jun 28 low at PHP48.474/48.430. Bulls would be pleased by a rally above Jul 2 high of PHP49.600, which would expose Jul 13, 2020 high of PHP49.780.
  • An ex-chief of the Integrated Bar of the Philippines said that there are no legal obstacles which could prevent Pres Duterte from running for VP in 2022.
  • The Philippine Coast Guard said it dispersed five Chinese vessels from the West Philippine Sea, amid simmering tensions over the disputed waters.
  • The Philippine Statistics Authority will publish their monthly CPI report tomorrow, with trade balance coming up on Friday.

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.