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Peso extends decline in morning trade after Fed raises key rate

The Philippine peso extended its drop on Thursday after the US Federal Reserve lifted its benchmark interest rate and signals possible acceleration in hikes......»»

Category: financeSource: philstar philstarJun 14th, 2018

Peso breaches P53:$1 level

THE Philippine peso continued to weaken on Wednesday, breaching the P53.09:$1 level in morning trade. The local currency opened at P53 to the dollar, five centavos weaker than the closing rate of P52.95:$1 on Monday. Analysts said earlier this week that geopolitical developments and worries over an expected US interest rate increase announcement were weighing down the [...] The post Peso breaches P53:$1 level appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 13th, 2018

Peso hits P52:$1 level

THE Philippine peso continued to weaken on Wednesday, hitting P52:$1 in morning trade. The local currency opened at P52.03 per US dollar, five centavos weaker than the closing rate of P51.98:$1 on Tuesday, before trading between P51.98 and P52.05 against the greenback. The last time the local unit breached the P52:$1 territory was 11 years ago or [...] The post Peso hits P52:$1 level appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsFeb 14th, 2018

Peso extends decline vs dollar

THE PESO continued to decline against the dollar yesterday following the release of local trade data for November, which further underscored the “weakness” in the country’s external payments position. The local currency closed Wednesday’s session at P50.38 versus the greenback, losing nine centavos from its P50.29-per-dollar finish on Wednesday. The peso opened weaker at P50.35 […] The post Peso extends decline vs dollar appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsJan 10th, 2018

Peso hits 13-year low anew

The peso weakened anew to the lowest level in almost 13 years, giving up 19 centavos at the start of the trading week amid the impending rate hikes by the US and Philippine central banks as well as worsening trade tension between the US and China......»»

Category: financeSource:  philstarRelated NewsSep 25th, 2018

Peso falls back to P54:$1 level

The peso returned to the P54:$1 level on Monday with an analyst pointing to the country’s trade and current account deficits as triggering the decline. The currency, which added 10 centavos last Friday, opened at P54.10 against the greenback and dropped to as low as P54.28 during the day. It closed at P53.11, down 14 centavos, [...] The post Peso falls back to P54:$1 level appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsSep 18th, 2018

Peso slips past P54 vs dollar

The local currency, the peso, slipped further against the dollar, dropping to a fresh 13-year low of P54.13 on Wednesday coming from Tuesday’s close at P53.94. This was the lowest the peso has been since 2 December 2005’s closing rate of P54.115. “The peso depreciated today amid escalating US-China trade tension, with China saying that […].....»»

Category: newsSource:  tribuneRelated NewsSep 12th, 2018

Trade war worries add to PSEi’s woes

The stock market extended a run of declines on Friday with analysts again pointing to higher-than-expected August inflation, a weaker peso and concerns of an escalation in the US-China trade war as having spooked investors. The Philippine Stock Exchange index (PSEi) fell by over 1 percent in morning trade, but a last-minute buying spree pared [...] The post Trade war worries add to PSEi’s woes appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsSep 7th, 2018

Peso nearly hits P54:$1 level in morning trade

The Philippine peso on Friday almost touched the P54-per-dollar level in morning trade as investors flee riskier markets amid concerns about rising domestic inflation and contagion from emerging markets, among others......»»

Category: financeSource:  philstarRelated NewsSep 7th, 2018

Peso nearly hits P54:$1 level in morning trade

The Philippine peso on Friday almost touched the P54-per-dollar level in morning trade as investors flee riskier markets amid concerns about rising domestic inflation and contagion from emerging markets, among others. Source link link: Peso nearly hits P54:$1 level in morning trade.....»»

Category: newsSource:  manilainformerRelated NewsSep 7th, 2018

US-Mexico trade bargain sends Wall Street soaring

NEW YORK, United States -- The United States and Mexico announced a breakthrough deal on trade on Monday, sparking a Wall Street rally that pushed major indices to fresh record closes. Canada's dollar and Mexico's peso both strengthened against the US dollar, which in turn weakened against a basket of other currencies. In Europe, trading was thin with London closed for a public holiday. US President Donald Trump and outgoing Mexican President Enrique Pena Nieto hailed the new trade agreement, which raises hopes the North American Free Trade Agreement can be salvaged after Canada rejoins the talks on Tuesday. The deal tightens local content requirements for autos, as well ...Keep on reading: US-Mexico trade bargain sends Wall Street soaring.....»»

Category: newsSource:  inquirerRelated NewsAug 27th, 2018

Blockbuster trade not what Kawhi, DeRozan hoped for

By David Aldridge, TNT Analyst Kawhi Leonard’s turbulent last days with the San Antonio Spurs ended Wednesday morning (late Wednesday, PHL time) with a trade that neither major party involved in the deal liked. The Spurs traded Leonard, the 2014 Finals MVP, two-time Defensive Player of the Year and two-time All-Star, along with veteran guard Danny Green, to the Toronto Raptors for four-time All-Star DeMar DeRozan, second-year big man Jakob Poeltl and a 2019 first-round Draft pick, which is protected from 1-20 next year. In doing so, San Antonio ended a relationship with the player that was poised to be the Spurs’ next lynchpin, but who had grown disenchanted with the franchise and wanted out. Leonard wanted to be traded to Los Angeles, closer to his hometown of Moreno Valley, Calif. He preferred the Lakers, and made that known in June, but was not averse to playing with the LA Clippers. However, the Spurs were adamant that they would not trade him to a Western Conference team, even though there was a strong likelihood that he would only stay with any team that traded for him until next year. That is when he would likely opt out of his contract, become a free agent and go to Los Angeles. Even though the 27-year-old Leonard told the Raptors in conversations between Toronto and his camp over the last week that he did not want to go there, the Raptors were willing to take the chance, anyway. DeRozan sought assurances from the Raptors that he wasn’t being moved in recent days. Both he and his representatives met with Raptors officials during NBA Summer League in Las Vegas, according to a source, at which time Toronto insisted that it wasn’t going to trade him. Now, DeRozan feels “lied to,” the source said, and, while having no personal grudges with the Spurs, is extremely upset at the deal. Meanwhile, @DeMar_DeRozan not backing off of claim he was lied to by Toronto regarding a potential trade, per source. Extremely upset. — David Aldridge (@daldridgetnt) July 18, 2018 Leonard also is not happy at going to Toronto, for several reasons, including the higher taxation rate in Canada than in Texas, which has no state income tax. Leonard’s camp had informed the Spurs he didn’t want to go there, but the Spurs made no promises either way. San Antonio had had significant discussions with the Philadelphia 76ers -- a team Leonard would have given a fair shake at convincing him to stay had it been able to make a deal with San Antonio. But the 76ers were unwilling to include guard Markelle Fultz, the former first pick overall in the 2017 Draft, or forward Dario Saric in any package proposals for Leonard. Leonard only played in nine games last season, citing an injured quad muscle that did not respond to treatment. But privately, Leonard was unhappy with what he thought was bad advice from the Spurs’ medical staff, and sought advice from his own group of doctors, removing himself from San Antonio to continue treatments in New York as the regular season ended and playoffs began. The Spurs did not push Leonard during his rehab, and referred questions about his status during their first-round series with the Golden State Warriors to his camp. Leonard’s uncle has acted as his agent for the last couple of years. Spurs coach Gregg Popovich informed Leonard’s camp of the trade early Wednesday (Wednesday, PHL time) in what was deemed a “cordial” conversation, according to a source. However, given the trade, Leonard is now contemplating not taking part in next week’s USA Basketball minicamp in Las Vegas. A final decision has not yet been made. For his part, the 28-year-old DeRozan let his feelings be known in an Instagram post early Wednesday (Wednesday, PHL time), saying in part, “Ain’t no loyalty in this game” after being dealt from the only team he’s played for in nine NBA seasons, and for whom he has been nothing but a first-class ambassador. The Raptors took DeRozan with the ninth pick in the 2009 Draft, during which time DeRozan became the franchise’s leader in several categories, including games, points and minutes played. He grew as the franchise did, helping lead it to the most successful period in its history alongside his close friend and All-Star teammate, Kyle Lowry. The backcourt did ads together, took vacations together with family and led Toronto to franchise records for wins, reaching the Eastern Conference finals in 2016. At every turn, DeRozan expressed happiness at playing for and living in Toronto, even as he had to make several cross-country trips last season to be with his ailing father in Los Angeles. DeRozan remade his game as part of the “culture reset” demanded by general manager Masai Ujiri after Toronto was beaten in the playoffs by LeBron James and the Cavaliers in 2017 -- a familiar outcome, as James and Cleveland beat the Raptors in three straight postseasons. DeRozan relied less on isolation sets than he had in years past, trying to move more without the ball and give it up so others could be more involved. Toronto won a franchise-best 59 regular season games last season and was the top seed in the Eastern Conference. However, Toronto suffered another playoff loss to Cleveland, this time a 4-0 sweep. It was especially galling considering the Cavaliers had been extended to a seventh game in their first-round series with Indiana, yet still managed to rally from a double-digit deficit to shock the Raptors in Game 1 in Toronto. The Cavs then cruised the rest of the way in the series. Ujiri fired coach Dwane Casey afterward, ultimately picking assistant coach Nick Nurse as Casey’s successor. But the reset of the team wasn’t complete. The Raptors believe strongly in their young core group of players, all of whom have been developed by Toronto the last few seasons -- guards Fred Van Vleet and Delon Wright, forward O.G. Anunoby and big man Pascal Siakham. Toronto initially opted to keep its existing vets around the kids, giving DeRozan a five-year, $138 million extension in 2016, then giving Lowry and forward Serge Ibaka extensions last summer – Lowry got a three-year, $100 million deal and Ibaka got a three-year, $65 million deal. However, after the latest playoff debacle, the Raptors let it be known around the Draft that none of their players were untouchable. If Toronto can get Leonard on board, the Raptors would have a potentially dynamic defensive group on the wings, with Leonard and Anunoby capable of guarding multiple positions. Ibaka isn’t the defender he was in Oklahoma City, where he was first team all-Defensive three years in a row, but he’s still a plus defender at his position. The 31-year-old Green is entering the final year of his contract. Long considered one of the best two-way guards in the game, Green was outstanding in the Spurs’ seven-game loss to the Heat in the 2013 Finals, making 27 3-pointers in the series en route to setting a Finals record. Poeltl, 22, was taken ninth overall by Toronto in the 2016 Draft. He worked his way quickly into the Raptors’ rotation, averaging 6.9 points and 4.8 rebounds last season. Longtime NBA reporter, columnist and Naismith Memorial Basketball Hall of Famer David Aldridge is an analyst for TNT. You can e-mail him here, find his archive here and follow him on Twitter. The views on this page do not necessarily reflect the views of the NBA, its clubs or Turner Broadcasting......»»

Category: sportsSource:  abscbnRelated NewsJul 19th, 2018

Peso drop not a sign of economic weakness

The Philippine economy remains strong despite a weakening peso, the Finance department said on Friday as it blamed the depreciation on outside factors such as a brewing trade war between the United States and China. “Exchange rate movements — whether depreciation or appreciation — should not be taken as a sign of structural weakness in [...] The post Peso drop not a sign of economic weakness appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 30th, 2018

Peso falls to P53.51:$1; risk-off sentiment cited

The Philippine peso fell to a fresh 12-year low on Thursday, closing at P53.515 against the dollar due to factors such as the country’s widening trade deficit, tariff wars between the world’s biggest economies and more US Federal Reserve rate hikes. The currency, which has been described as Asia’s worst-performing this year, closed 4 centavos down [...] The post Peso falls to P53.51:$1; risk-off sentiment cited appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 29th, 2018

Peso touches 12-year low

The Philippine peso hit its lowest level in almost 12 years during intraday trading yesterday as traders braced themselves for the possibility of more capital outflows next month. The local currency declined to as low as P52.60 to the dollar during the morning session after the US Federal Reserve released details from their latest meeting pointing to the possibility of a rate hike in June. Higher interest rates in the world's largest economy make investing in securities more attractive, resulting in investors selling pesos to buy dollars. The peso opened the session weaker at 52.50 and slid to 52.60 --- the lowest since July 2006 --- before recovering slightly to 52.45 to a doll...Keep on reading: Peso touches 12-year low.....»»

Category: newsSource:  inquirerRelated NewsMay 24th, 2018

Peso continues to drop

THE PESO continued to decline against the dollar on Thursday due to strong dollar demand  following the release of data showing a wider Philippine trade deficit. The local currency ended yesterday’s session at P50.80 versus the greenback, nine-and-a-half centavos weaker than its P50.705-per-dollar close on Wednesday. This is the peso’s weakest close in nearly two […] The post Peso continues to drop appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsJan 18th, 2018

Peso weakens further as players position ahead of Fed rate hikes

THE PESO extended its decline against the greenback and sank deeper within the P50-per-dollar level on Tuesday as market players position ahead of expected rate hikes from US Federal Reserve this year. The local currency ended yesterday’s session at P50.29 against the greenback, 14 centavos weaker than its P50.15-per-dollar finish on Monday. The peso traded […] The post Peso weakens further as players position ahead of Fed rate hikes appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJan 9th, 2018

Peso extends decline vs dollar

THE PESO plunged against the dollar on Wednesday due to upbeat sentiment on the US tax package and cautiousness over US employment data. The local currency ended Wednesday’s session at P50.71, eight centavos weaker than its P50.63-per-dollar finish on Tuesday. The peso opened weaker at P50.71 against the greenback. Its worst showing for the day […] The post Peso extends decline vs dollar appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsDec 6th, 2017

Peso seen to move sideways vs dollar

THE PESO is seen to trade sideways this week as weaker-than-expected US inflation data keep the market doubtful of a Federal Reserve rate hike for now, but will be offset by safe-haven buying amid rising North Korea tensions. The peso on Friday rebounded to P51.39 versus the greenback due to profit taking after touching its year-to-date low […] The post Peso seen to move sideways vs dollar appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsOct 16th, 2017

Labor group says to seek bigger Metro Manila wage hike

THE COUNTRY’S biggest labor group plans to raise today its daily minimum wage hike petition for Metro Manila’s private sector workers in the face of a rising inflation rate, according to a notice which the Associated Labor Unions-Trade Union Congress of the Philippines (ALU-TUCP) e-mailed to journalists on Sunday. The National Capital Region (NCR) Regional… link: Labor group says to seek bigger Metro Manila wage hike.....»»

Category: newsSource:  manilainformerRelated NewsOct 22nd, 2018

Labor group says to seek bigger Metro Manila wage hike

THE COUNTRY’S biggest labor group plans to increase its daily minimum wage hike petition today in the face of a rising inflation rate, according to a notice which the Associated Labor Unions-Trade Union Congress of the Philippines (ALU-TUCP) e-mailed to journalists on Sunday......»»

Category: financeSource:  bworldonlineRelated NewsOct 21st, 2018