Philippine peso News, Guides, Forecasts & Provider Reviews. Stay on top of Philippine peso exchange rates, charts and rate changes in the major PHP cross currency pairs. This allows you to take advantage of any market moves plus the low margins from our online currency and foreign payment partners to ensure you get the best possible exchange rates deals.
Markets have shifted focus to the interest rate policies of other major central banks rather than the Federal Reserve.
The strength of the US dollar and interest rate movements by the Federal Reserve are behind the weakness of Asian currencies.
Forecasts for the Philippine peso change all the time, affected by news events and relative sentiment towards the Philippine economy.
Property debt crisis in China, central bank bond policy and the energy crisis are combining for a volatile October - it is ever thus!
Fears Chinese mega developer Evergrande’s collapse will spark a contagion event and the ongoing European gas crisis has hit confidence.
Volatility returned to the currency markets last week with the Australian and New Zealand Dollar falling the hardest against the Greenback (both down 1W -3.0%).
Speculation abounds on whether the RBNZ will be the first to hike rates, this helped the NZD to rise to 1 year highs versus the Aussie dollar.
Last week’s big event was the strong US Non-Farms Payrolls report for July.
The British Pound GBP was a mover and shaker last week, hitting HIGHS against both the USD (30-DAY), EUR (90-DAY) and other major FX.
US Non-Farm Payrolls report was a mixed result - the Unemployment Rate moved higher but Wages slipped.
Fed Officials mixed opinions following last week’s hawkish bent reduces markets perception of sooner rate rises.
Last week the US Federal Reserve moved its growth forecasts higher and brought forward the timing of its interest rate hikes to 2023.
Review of Currency Market trends and news from last week.
On Thursday Turkey’s central bank finally caved into financial markets and jacked up interest rates by a hefty 4.75 per cent raising the benchmark rate to 15 per cent promising to remain tough on inflation.