Halister News

(Bloomberg) -- USD/PHP could retreat to 50-DMA of 46.653 near-term if inflation rises more than economists expect, Bloomberg strategist Andrew Robinson writes.

• June CPI forecast to rise 1.8% y/y after 1.6% increase in May, according to median est. in Bloomberg survey; ests. range from 1.5% to 2.0%; data due at 9am local time tomorrow
• May data stronger than expected for first time in five months; USD/PHP fell 0.3% to 46.110 on June 7, the day of that release
• USD/PHP down 0.1% at 46.890 today
  • Slow stochastics and Williams %R are both falling
• BSP cut inflation forecast to 2% for this year from 2.1% previously, Deputy Governor Guinigundo said on June 23
• NOTE: Andrew Robinson is an FX strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.