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THE peso moved sideways on Friday on the back of a “disappointing” US-China phase one trade deal and as big data releases next week pushed investors to the sidelines.
THE PESO weakened on Thursday even after the signing of the phase one deal between the United States and China, suggesting that markets may not be fully convinced of the positive impact of the landmark agreement on tariffs between the two countries.
THE PHILIPPINE PESO is set to lag peers as the nation’s current account deficit widens, according to Goldman Sachs Group, Inc.
THE PESO moved sideways on Friday as the market was on wait-and-see mode a week before the anticipated signing of the phase one deal between the world’s two biggest economies.
WHILE THE PESO could strengthen against the greenback in the short term on the back of the phase one deal between the US and China, it may weaken later in 2020 up to 2021 due to further monetary easing and the widening of the current account deficit, according to analysts.
THE PESO weakened sharply past the P51-to-the-dollar level following a rush to safe-haven currencies due to the prospect of fresh Middle Eastern tensions after a US air strike killed a senior Iranian military officer while he was in Iraq.
THE PESO weakened on the first trading day of the year on the back of the losses in the stock market and as some investors stock up on their dollar ahead of the uncertainties throughout the year.
THE PESO ended sideways on Thursday as the market opted to stay on the sidelines as the year comes to an end.
THE PESO moved sideways on Monday following the latest round of cuts to banks’ reserve requirement ratios (RRR) and as markets await the Bangko Sentral ng Pilipinas’ (BSP) monetary policy decision.
THE PESO regained its strength versus the dollar on Thursday as markets picked up a sense of optimism that trade talks between the US and China are still in progress despite the situation in some of China’s territories and following data showing manageable inflation in November.
THE PESO could strengthen this week on the back of support from continued remittance inflows this month.
THE PESO depreciated anew on Friday as China threatened to impose countermeasures after the US passed a bill in support of Hong Kong.