एब्स्ट्रैक्ट:Philippines Pesos went up after BSP( Bangko Sentral ng Pilipinas, Philippine’s central bank) announced its interest rate cut. But USD/PHP didn’t quite respond to BSP’s lowering the benchmark rate by 25 basis points to 4.00%, largely because the move was in line with market forecast, so investors weren’t really surprised about the much expected change.
Philippines Pesos went up after BSP( Bangko Sentral ng Pilipinas, Philippine‘s central bank) announced its interest rate cut. But USD/PHP didn’t quite respond to BSP‘s lowering the benchmark rate by 25 basis points to 4.00%, largely because the move was in line with market forecast, so investors weren’t really surprised about the much expected change.
BSP said the next step will largely depend on economic data, when being asked about future actions. The bank has slightly lowered the 2019 inflation expectation from 2.6% to 2.5%, closer to the lower half of the 2%-4% inflation target range.
PHP was also likely buoyed by the comments of BSP Governor Benjamin Diokno, who mentioned a day after the announcement that theres no guarantee whether another rate cut will take place during the rest of 2019, underlining they will be closely watching inflation and GDP figures of the country.
Technically, USD/PHP will keep its negative trend under pressure, with 51.66 and 51.40 as the 2 major supports.
PHP pivot points: 51.89----51.91
S1: 51.66 R1: 52.14
S2: 51.40 R2: 52.40
अस्वीकरण:
इस लेख में विचार केवल लेखक के व्यक्तिगत विचारों का प्रतिनिधित्व करते हैं और इस मंच के लिए निवेश सलाह का गठन नहीं करते हैं। यह प्लेटफ़ॉर्म लेख जानकारी की सटीकता, पूर्णता और समयबद्धता की गारंटी नहीं देता है, न ही यह लेख जानकारी के उपयोग या निर्भरता के कारण होने वाले किसी भी नुकसान के लिए उत्तरदायी है।
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IC Markets
IG
TMGM
BBI Trading
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SMART BALANCE
IC Markets
IG
TMGM
BBI Trading
EightCap
SMART BALANCE