Policy Rate Updates (September 21, 2023)
DOWNLOAD
Economic Updates (September 15, 2023)
DOWNLOAD
Consensus Pricing – September 12, 2023
DOWNLOAD
Metrobank net income up 27.1% to P7.8 billion in 1Q2021
To stimulate the revival and rebounding of the global economy, post-pandemic global economic recovery phase requires collaboration and and cooperation.
By George Kinsley
The COVID-19 viral pandemic continues to be a highly personal, individual experience that is also an unprecedented globally-shared phenomenon with wide-ranging repercussions. The pandemic has disrupted lives across all countries and communities and negatively affected global economic growth in 2020 beyond anything experienced in nearly a century.
Estimates indicate the virus reduced global economic growth in 2020 to an annualized rate of -3.4% to -7.6%, with a recovery of 4.2% to 5.6% projected for 2021. Global trade is estimated to have fallen by 5.3% in 2020, but is projected to grow by 8.0% in 2021. According to a consensus of forecasts, the economic downturn in 2020 was not as negative as initially estimated, due in part to the fiscal and monetary policies governments adopted in 2020.
Generally, economic growth forecasts captured the decline and subsequent rebound in economic growth over the second and third quarters of 2020, but have been challenged since by the prolonged nature of the health crisis and its continuing impact on the global economy.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Dolor donec nunc egestas vitae. Euismod ornare adipiscing ac pulvinar est tortor. Volutpat ultricies habitant sem commodo eu, nisi malesuada condimentum. Pellentesque amet ullamcorper sed fusce vel aliquam. Netus sed viverra gravida augue facilisis sit molestie.
Nunc enim, turpis ut id ipsum mollis enim tortor. Ipsum semper nec gravida ac. Quam eu elementum ridiculus pulvinar nunc, eu. Sem tincidunt scelerisque quis scelerisque a sed adipiscing vel ullamcorper. Volutpat consectetur eget. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Dolor donec nunc egestas vitae. Euismod ornare adipiscing ac pulvinar est tortor. Volutpat ultricies habitant sem commodo eu, nisi malesuada condimentum. Pellentesque amet ullamcorper sed fusce vel aliquam. Netus sed viverra gravida augue facilisis sit molestie. Pellentesque amet ullamcorper sed fusce vel aliquam. Netus sed viverra gravida augue facilisis sit.
“US Equities pushed higher overnight as solid corporate profits overtook concerns about the impact of global coronavirus flare-ups.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Dolor donec nunc egestas vitae. Euismod ornare adipiscing ac pulvinar est tortor. Volutpat ultricies habitant sem commodo eu, nisi malesuada condimentum. Pellentesque amet ullamcorper sed fusce vel aliquam. Netus sed viverra gravida augue facilisis sit molestie.
Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Estimates indicate the virus reduced global economic growth in 2020 to an annualized rate of -3.4% to -7.6%, with a recovery of 4.2% to 5.6% projected for 2021. Global trade is estimated to have fallen by 5.3% in 2020, but is projected to grow by 8.0% in 2021. According to a consensus of forecasts, the economic downturn in 2020 was not as negative as initially estimated, due in part to the fiscal and monetary policies governments adopted in 2020.
Generally, economic growth forecasts captured the decline and subsequent rebound in economic growth over the second and third quarters of 2020, but have been challenged since by the prolonged nature of the health crisis and its continuing impact on the global economy.
Nunc enim, turpis ut id ipsum mollis enim tortor. Ipsum semper nec gravida ac. Quam eu elementum ridiculus pulvinar nunc, eu. Sem tincidunt scelerisque quis scelerisque a sed adipiscing vel ullamcorper. Volutpat consectetur eget. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Dolor donec nunc egestas vitae. Euismod ornare adipiscing ac pulvinar est tortor. Volutpat ultricies habitant sem commodo eu, nisi malesuada condimentum. Pellentesque amet ullamcorper sed fusce vel aliquam. Netus sed viverra gravida augue facilisis sit molestie. Pellentesque amet ullamcorper sed fusce vel aliquam. Netus sed viverra gravida augue facilisis.
2020 was not as negative as initially estimated, due in part to the fiscal and monetary policies
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Dolor donec nunc egestas vitae. Euismod ornare adipiscing ac pulvinar est tortor. Volutpat ultricies habitant sem commodo eu, nisi malesuada condimentum. Pellentesque amet ullamcorper sed fusce vel aliquam. Netus sed viverra gravida augue facilisis sit molestie.
TODAY’S REPORT
The Gist
Our portfolio Recommendation
Top Things To Know Today
- USDPHP opened slightly higher at 52.41 following the well-bid tone of the USD in the region.
- Fixing demand supported USDPHP on dips, but continued presence of local USD supply at 52.50 and relatively light corporate demand capped further upside moves.
- Selling interest from offshore names drove USDPHP to its intraday low of 52.26, and eventually closing at 52.33 on some late squaring of risk positions.
- 25/30 support levels continue to serve as decent support for the local pair ahead of the 52.15/20 area.
- 50 remains the near-term resistance level due to sizable local offers. With dealers still wary of holding onto sizable bets below the 52.30 area, we remain better buyers on dips, particularly ahead of 52.20 where opportunistic buying is likely to scale in heavily.
- We recommend to buy USD on dips closer to 52.30 with corporate demand expected to scale in on any dip.
- We reiterate that uncertainty amidst global geopolitical tensions and the now more aggressive US Fed policy path will continue to drive a stronger USD bias.
Up Next: Post-Pandemic Global Economic Recovery Requires Cooperation Among Nations
Up Next: Post-Pandemic Global Economic Recovery Requires Cooperation Among Nations
To stimulate the revival and rebounding of the global economy, post-pandemic global economic recovery phase requires collaboration and and cooperation.
By George Kinsley