USD/PHP May Test Psychological 59 Level in Near Term, Barclays Says -- Market Talk

Dow Jones

2024/06/07

0204 GMT - USD/PHP may test the psychological 59 level in the near term, Barclays' FICC research team says in a report. Elevated onshore dollar demand, the Philippine central bank's communication leaning to the dovish side and only "modest intervention" in the foreign-exchange market should keep the Philippine peso trading on the back foot, the team says. However, the hurdle for the pace of peso depreciation to quicken appears high, given the relatively crowded positioning and the peso's movements so far, the team adds. USD/PHP is down 0.1% at 58.54. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

June 06, 2024 22:04 ET (02:04 GMT)

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Elevated onshore dollar demand, the Philippine central bank's communication leaning to the dovish side and only \"modest intervention\" in the foreign-exchange market should keep the Philippine peso trading on the back foot, the team says. However, the hurdle for the pace of peso depreciation to quicken appears high, given the relatively crowded positioning and the peso's movements so far, the team adds. USD/PHP is down 0.1% at 58.54. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 06, 2024 22:04 ET (02:04 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>USD/PHP May Test Psychological 59 Level in Near Term, Barclays Says -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUSD/PHP May Test Psychological 59 Level in Near Term, Barclays Says -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-06-07 10:04</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0204 GMT - USD/PHP may test the psychological 59 level in the near term, Barclays' FICC research team says in a report. Elevated onshore dollar demand, the Philippine central bank's communication leaning to the dovish side and only \"modest intervention\" in the foreign-exchange market should keep the Philippine peso trading on the back foot, the team says. However, the hurdle for the pace of peso depreciation to quicken appears high, given the relatively crowded positioning and the peso's movements so far, the team adds. USD/PHP is down 0.1% at 58.54. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 06, 2024 22:04 ET (02:04 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"USD","symbol_name":"ProShares Ultra Semiconductors","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2441870981","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2441870981","pubTimestamp":1717725840,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0204 GMT - USD/PHP may test the psychological 59 level in the near term, Barclays' FICC research team says in a report. Elevated onshore dollar demand, the Philippine central bank's communication leaning to the dovish side and only \"modest intervention\" in the foreign-exchange market should keep the Philippine peso trading on the back foot, the team says. However, the hurdle for the pace of peso depreciation to quicken appears high, given the relatively crowded positioning and the peso's movements so far, the team adds. USD/PHP is down 0.1% at 58.54. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"USD":"ProShares Ultra Semiconductors"},"translate_title":"巴克莱表示，美元/菲律宾比索近期可能测试59心理水平——市场谈话","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"USDPHP.FOREX":1,"USD":1},"content_text":"0204 GMT - USD/PHP may test the psychological 59 level in the near term, Barclays' FICC research team says in a report. Elevated onshore dollar demand, the Philippine central bank's communication leaning to the dovish side and only \"modest intervention\" in the foreign-exchange market should keep the Philippine peso trading on the back foot, the team says. However, the hurdle for the pace of peso depreciation to quicken appears high, given the relatively crowded positioning and the peso's movements so far, the team adds. USD/PHP is down 0.1% at 58.54. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 06, 2024 22:04 ET (02:04 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}