INSIDE PHILIPPINES: Peso Declines; April CPI Lower Than Expected
Source: BFW (Bloomberg First Word)
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UUID: 7947283
(Bloomberg) -- Peso falls 0.3% to 47.225 per dollar after breaching support at 100-DMA yesterday.
Alert: HALISTER1- April consumer prices rose 1.1% y/y vs est. 1.2%; core CPI 1.5% vs est. 1.6%
- Front-runner Duterte says central bank and money-laundering watchdog “in hot water” if he becomes president
- While political uncertainty may affect the peso leading up to the election, this is unlikely to have a lasting impact post-election, writes Bank of Tokyo-Mitsubishi UFJ in a note received yesterday; dollar-side factors will be key, particularly with the probability of a FOMC rate hike in June diminishing and the next hike being pushed further out; BTMU maintains its end-2Q USD/PHP forecast of 47.000
- Peso 1-mo. forwards little changed at 47.42
- Global funds were net buyers of $9.4m in local equities yesterday: exchange data
- Yield on 8% govt bonds due July 2031 falls 1 bp to 4.0200, according to Tradition pricing
Source: BFW (Bloomberg First Word)
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UUID: 7947283