Dollar-Peso Exchange Rate

Mixed news overnight as US equities were slightly up along with US treasuries climbing marginally higher while the USD continued to lose ground against major currencies as uncertainties in US politics continue to linger. However, biggest news overnight was the suspected UK terrorist attack which left 19 people dead and 50 injured. The news caused safe haven assets to trade higher, while allowing the greenback to extend its gains against regional currencies. USD/PHP was well bid from the start with market players buying the greenback on any dips. Furthermore buying interest was instigated by suspected fixing demand and the local pair reached an intraday high of Php49.850 before finally closing at Php49.820, up 5 centavos from yesterday.                          

    23-May-17   22-May-17
         
OPEN:   49.780   49.700
HIGH:   49.850   49.780
LOW:   49.740   49.700
CLOSE:   49.820   49.770
         
AM WT AVERAGE:   49.762   49.752
AM VOLUME (in millions):   $       359.00   $       308.60
         
PM WT AVERAGE:   49.824   49.755
PM VOLUME(in millions):   $       213.00   $       120.50
         
PDS WT AVERAGE:   49.785   49.753
TOTAL VOLUME(in millions):   $       572.00   $       429.10

 

 

              

 

 



 

 

 

 

 

 

Local Government Securities Market

Follow-through buying was seen from early in today's sessions as buyers were still likely those reinvesting the proceeds of yesterday's Php 50.0 Bn FXTN maturity. After the initial buying spree, a bit of correction was seen as some players were already seen taking profits from the previous sessions' rally. At close, short-end yields are still down 3.5 - 6.5 bps. The long-ends, meanwhile, had little activity but a few mapped trades were seen on the longest bond, FXTN 25-11 with 23.3 years at the 5.25% level. With the market putting liquidity to work today, a total of more than Php 30 Bn worth of deals were recorded.
Momentum from the past two sessions may carry over to tomorrow. We may still see good activity as trading volume today was highest in a while.


 

 

Dollar-Peso Exchange Rate
23 May 2017 16:00

Mixed news overnight as US equities were slightly up along with US treasuries climbing marginally higher while the USD continued to lose ground against major currencies as uncertainties in US politics [ ... ]

Local Government Securities Market
23 May 2017 16:00

Follow-through buying was seen from early in today's sessions as buyers were still likely those reinvesting the proceeds of yesterday's Php 50.0 Bn FXTN maturity. After the initial buying spree, a bit [ ... ]

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