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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 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

Peso, stocks fall to new lows

Renewed fears of a possible trade war between the US and China again took its toll on the local financial market as foreign exchange and stock trading succumbed to new lows yesterday......»»

Category: financeSource:  philstarRelated NewsJun 19th, 2018

Peso hits P53.48:$1

Monetary policy differences, US-China trade spat blamed Monetary policy “divergences” and renewed trade tensions between the United States and China pulled the Philippine peso to a fresh 12-year low of P53.48 against the dollar on Monday. The currency closed 21 centavos down from P53.27:$1 last Thursday, its lowest since a P53.55:$1 finish on June 29, [...] The post Peso hits P53.48:$1 appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 18th, 2018

Jeff Chan Ginebra-bound after getting traded for first round pick

The Barangay just got a bit more stacked.  Monday morning, the PBA announced that Phoenix had traded Gilas sharpshooter Jeff Chan to Ginebra for a 2018 first round draft pick.  🚨 TRADE!!!@phx_fuelmasters TRADES @jeffreichan to @barangayginebra for the Gin Kings’ 2018 1st round draft pick. #WeArePBA pic.twitter.com/7wKf7QI3Yi — PBA (@pbaconnect) June 18, 2018 The 34-year old Chan, a ten-year veteran of the league and a two-time PBA champion and one-time Finals MVP, is averaging nearly 12 points and to go with four boards and four assists in nine games in the on-going PBA Commissioner's Cup. In his last game with the Fuel Masters, Chan put up a solid 26 points to go with seven boards in a 108-106 defeat to league-leading Rain or Shine.  The six-foot-three former FEU Tamaraw joins a talent-loaded Gin Kings roster that features Gilas teammates LA Tenorio, Japeth Aguilar, Greg Slaughter, as well as Scottie Thompson and import Justin Brownlee just to name a few.  The trade comes at an interesting time in the conference, as tenth-seeded Phoenix, who are fighting for a spot in the post-season, decide to give up a ready contributor in Chan.  Ninth-seeded Ginebra on the other hand, sitting at 3-5, is coming off back-to-back wins and will be getting even more help as they too try to make a push for the playoffs. The Gin Kings defeated Magnolia in the most recent edition of the Manila Clasico, just last Sunday. .....»»

Category: sportsSource:  abscbnRelated NewsJun 18th, 2018

Consensus Mock Draft: Ayton a lock? Bagley rising, Doncic falling

By Drew Packham, NBA.com The Consensus Mock Draft is a compilation of the best mock drafts around the web. We bring them together to come up with a good estimate of how the 2018 NBA Draft could play out. For the first time in their history, the Phoenix Suns have the No. 1 pick in the NBA Draft. But what will they do with it? Go with talented big man DeAndre Ayton, who played college ball nearby at Arizona? Or do they go with the international phenom Luka Doncic, who has been one of the most celebrated players in Europe? We'll find out June 21 (June 22, PHL time). Until then, we'll continue to monitor the Mock Drafts around the web to come up with a clearer picture of what might go down. Some notes as we enter the final week before next Thursday's (Friday, PHL time) draft: - There's now a complete consensus at No. 1: Deandre Ayton appears to be the pick here, as the Suns get their big man to rebuild around. Previous looks had the Suns going with Luka Doncic, but now all 10 mock drafts have Phoenix going with the talented big man who played down the road at Arizona.       - The real intrigue begins at No. 2. Luka Doncic once appeared to be a lock at this spot, but it now appears the Kings are leaning toward either Duke’s Marvin Bagley III or taking a chance on Michael Porter Jr. (Sacramento is reportedly high on Porter, and could even trade down if they think they could get him lower.)       - Things will really get interesting at No. 3. In our look at the 10 mock drafts, no player appears three times (Jaren Jackson Jr.). Doncic, Bagley and Trae Young each appear twice.       - Doncic’s spiral is fascinating. He now appears most commonly at No. 4 to the Grizzlies (four times), and one site (NBADraft.net) has him slipping all the way to Dallas at No. 5. Doncic has long been considered one of the Top 2 prospects and most-NBA ready despite being just 19-years-old, thanks to strong experience in Euroleague action with Real Madrid.       - Seven of the 10 mocks have Bagley going No. 3 to the Hawks. The other three have Michigan State's Jackson heading to Atlanta.       - Oklahoma guard Trae Young has seen his stock rise a bit. Two mocks currently have him going to the Hawks at No. 3, but no one expects him to fall past the Knicks at No. 9.       - Miami shooting guard Lonnie Walker IV has seen some increased buzz since our last look. He previously appeared on just three of our 10 mocks, but now shows up in six mocks, as high as No. 10 to the 76ers (twice) and most commonly at No. 13 to the Clippers (three times).       - No one seems to have any idea where Michael Porter Jr. will land. In a surprising update, Basketball Insiders and USA Today both have Porter going No. 2 to Sacramento. But two mocks also see him falling as far as No. 8 to Cleveland. Porter could be a pivotal piece to this year’s draft.       - One player gaining some ground in the mocks is Kentucky swingman Kevin Knox. In our first look he only appeared on a few mocks, but now he shows up in the lottery on eight of the 10 mocks. The Ringer has him going at No. 7 to the Bulls, but most see him landing in the end of the lottery.       - After the top pick, the rest of the lottery appears to be anyone's guess. Bagley appears six times at No. 2 and Mo Bamba shows up six times at No. 6 to Orlando, but no one else shows up more than five times at any draft position. This should change between now and June 21, but for now there's a lot of uncertainty.       - Nine players appear on all 10 mocks we survey: Ayton, Doncic, Bagley, Jackson, Young, Bamba, Porter, Mikal Bridges and Wendell Carter Jr. MOST COMMON PICKS No. 1 (Suns): Deandre Ayton (10) No. 2 (Kings): Marvin Bagley III (6) No. 3 (Hawks): Jaren Jackson Jr. (3) No. 4 (Grizzlies): Luka Doncic (5) No. 5 (Mavericks): Jaren Jackson Jr. (4) No. 6 (Magic): Mohamed Bamba (6) No. 7 (Bulls): Michael Porter Jr. (3) No. 8 (Cavaliers): Wendell Carter Jr. (5) No. 9 (Knicks): Mikal Bridges (4) No. 10 (76ers): Mikal Bridges (4) No. 11 (Hornets): Kevin Knox, Miles Bridges (3) No. 12 (Clippers): Collin Sexton (4) No. 13 (Clippers): Robert Williams (5) No. 14 (Nuggets): Kevin Knox (3) Most common (above): Pick at which the player is most commonly projected, with number of mock drafts in parentheses. For example, Deandre Ayton is projected to go first in all 10 of the mock drafts listed below. Top 14 (below): To calculate the consensus, we awarded 14 points for every mock draft in which the player went first overall, 13 for second, continuing to one point for the final lottery pick. The player with the highest point total represents the top overall selection, which is as follows: No. 1: Deandre Ayton | Phoenix Suns Arizona | Position: C | Height: 7-1 Status: Freshman Most Common: 1 (10) Physical specimen who has size to shine in post, but agile and talented enough to develop outside game; should contribute from Day 1 to whomever lands him No. 2: Marvin Bagley III | Sacramento Kings Duke | Position: PF | Height: 6-11 Status: Freshman Most Common: 2 (6) ACC Player of the Year has all the makings of a small-ball center or power forward who can make defenses sweat -- all while rebounding at a prodigious rate No. 3: Luka Doncic | Atlanta Hawks Real Madrid | Position: SG/SF | Height: 6-8 Status: International Most Common: 4 (5) Versatile Slovenian is one of most NBA-ready international prospects ever; talented distributor who can play both guard positions No. 4: Jaren Jackson Jr. | Memphis Grizzlies Michigan State | Position: PF | Height: 6-11 Status: Freshman Most Common: 5 (4) Outstanding defender who boasts an emerging offensive game that gives him great two-way potential No. 5: Michael Porter Jr. | Dallas Mavericks Missouri | Position: SF | Height: 6-10 Status: Freshman Most Common: 7 (3) Teams will be wary of his back injury which limited him to just three games at Mizzou, but he can shoot, which with his length, makes him a valuable weapon No. 6: Mohamed Bamba | Orlando Magic Texas | Position: C | Height: 7-0 Status: Freshman Most Common: 6 (6) Long, talented defender was second in the country in blocked shots per game last season (3.7) and fourth in total blocks (111), drawing comparisons to Rudy Gobert and Clint Capela No. 7: Trae Young | Chicago Bulls Oklahoma | Position: PG | Height: 6-2 Status: Freshman Most Common: 8 (3) Talented scorer led the nation in scoring (27.4) and assists (8.7) per game, but will need to improve on defensive end in NBA No. 8: Wendell Carter Jr. | Cleveland Cavaliers Duke | Position: PF/C | Height: 6-10 Status: Freshman Most Common: 8 (5) Do-it-all big man draws comparisons to Al Horford; has huge hands that allow him to catch and score in the paint, while also having the physicality to finish through contact No. 9: Mikal Bridges | New York Knicks Villanova | Position: SG/SF | Height: 6-7 Status: Junior Most Common: 9, 10 (4) The All-Big East first team selection who helped Villanova to a title is considered one of the best two-way prospects, drawing comparisons to Kawhi Leonard No. 10: Miles Bridges | Philadelphia 76ers Michigan State | Position: SF/PF | Height: 6-7 Status: Sophomore Most Common: 10, 11 (3) The first team all-Big 10 selection averaged 17 points and 7 rebounds a game for the Spartans and was a finalist for the Wooden Award No. 11: Collin Sexton | Charlotte Hornets Alabama | Position: PG | Height: 6-2 Status: Freshman Most Common: 12 (4) Was second in SEC in scoring (19.2 per game); his toughness and competitive streak are viewed highly by pro evaluators, even drawing comparisons to Russell Westbrook No. 12: Kevin Knox | LA Clippers Kentucky | Position: SF/PF | Height: 6-9 Status: Freshman Most Common: 11, 14 (3) Showed potential as a perimeter threat and was an all-SEC freshmen team selection while starting 37 games at Kentucky No. 13: Lonnie Walker IV | LA Clippers Miami | Position: SG | Height: 6-4 Status: Freshman Most Common: 13 (3) A long, explosive, athletic shooting guard who put points on the board in bunches from the perimeter and on the break No. 14: Robert Williams | Denver Nuggets Texas A&M | Position: PF/C | Height: 6-9 Status: Sophomore Most Common: 13 (5) Was an SEC all-Defensive Team selection, finishing in Top 20 nationally both in defensive rating and total blocks; questions remain about consistency of effort MOCK DRAFTS ESPN.com 1. Deandre Ayton 2. Marvin Bagley III 3. Jaren Jackson Jr. 4. Luka Doncic 5. Mohamed Bamba 6. Wendell Carter Jr. 7. Michael Porter Jr. 8. Trae Young 9. Kevin Knox 10. Mikal Bridges 11. Shai Gilgeous-Alexander 12. Collin Sexton 13. Lonnie Walker IV 14. Miles Bridges Last updated: June 14 The Ringer 1. Deandre Ayton 2. Marvin Bagley III 3. Luka Doncic 4. Michael Porter Jr. 5. Jaren Jackson Jr. 6. Mohamed Bamba 7. Kevin Knox 8. Wendell Carter Jr. 9. Trae Young 10. Mikal Bridges 11. Collin Sexton 12. Miles Bridges 13. Lonnie Walker IV 14. Zhaire Smith Last updated: June 13 NBADraft.net 1. Deandre Ayton 2. Marvin Bagley III 3. Trae Young 4. Jaren Jackson Jr. 5. Luka Doncic 6. Mohamed Bamba 7. Mikal Bridges 8. Michael Porter Jr. 9. Wendell Carter Jr. 10. Miles Bridges 11. Collin Sexton 12. Shai Gilgeous-Alexander 13. Zhaire Smith 14. Robert Williams Last updated: June 13 SI.com 1. Deandre Ayton 2. Marvin Bagley III 3. Jaren Jackson Jr. 4. Luka Doncic 5. Michael Porter Jr. 6. Mohamed Bamba 7. Trae Young 8. Wendell Carter Jr. 9. Mikal Bridges 10. Lonnie Walker IV 11. Kevin Knox 12. Collin Sexton 13. Robert Williams 14. Shai Gilgeous-Alexander Last updated: June 12 USA Today 1. Deandre Ayton 2. Michael Porter Jr. 3. Marvin Bagley III 4. Luka Doncic 5. Jaren Jackson Jr. 6. Mohamed Bamba 7. Wendell Carter Jr. 8. Trae Young 9. Collin Sexton 10. Mikal Bridges 11. Miles Bridges 12. Lonnie Walker IV 13. Robert Williams 14. Kevin Knox Last updated: June 15 SB Nation 1. Deandre Ayton 2. Luka Doncic 3. Jaren Jackson Jr. 4. Trae Young 5. Marvin Bagley III 6. Mohamed Bamba 7. Miles Bridges 8. Michael Porter Jr. 9. Mikal Bridges 10. Wendell Carter Jr. 11. Shai Gilgeous-Alexander 12. Collin Sexton 13. Robert Williams 14. Chandler Hutchison Last updated: June 11 Bleacher Report 1. Deandre Ayton 2. Marvin Bagley III 3. Mohamed Bamba 4. Luka Doncic 5. Jaren Jackson Jr. 6. Trae Young 7. Michael Porter Jr. 8. Wendell Carter Jr. 9. Mikal Bridges 10. Lonnie Walker IV 11. Miles Bridges 12. Collin Sexton 13. Robert Williams 14. Kevin Knox Last updated: June 11 Net Scouts 1. Deandre Ayton 2. Luka Doncic 3. Marvin Bagley III 4. Jaren Jackson Jr. 5. Mohamed Bamba 6. Wendell Carter Jr. 7. Michael Porter Jr. 8. Trae Young 9. Collin Sexton 10. Miles Bridges 11. Kevin Knox 12. Shai Gilgeous-Alexander 13. Robert Williams 14. Mikal Bridges Last updated: June 5 CBS Sports 1. Deandre Ayton 2. Marvin Bagley III 3. Luka Doncic 4. Michael Porter Jr. 5. Jaren Jackson Jr. 6. Mohamed Bamba 7. Trae Young 8. Wendell Carter Jr. 9. Collin Sexton 10. Mikal Bridges 11. Miles Bridges 12. Robert Williams 13. Shai Gilgeous-Alexander 14. Kevin Knox Last updated: June 15 Basketball Insiders 1. Deandre Ayton 2. Michael Porter Jr. 3. Trae Young 4. Luka Doncic 5. Marvin Bagley III 6. Jaren Jackson Jr. 7. Mohamed Bamba 8. Wendell Carter Jr. 9. Mikal Bridges 10. Miles Bridges 11. Kevin Knox 12. Robert Williams 13. Lonnie Walker IV 14. Troy Brown Last updated: June 13 ESPN Insider: Jonathan Givony SI.com: Jeremy Woo Net Scouts: Carl Berman Bleacher Report: Jonathan Wasserman Basketball Insiders: Steve Kyler CBS Sports: Gary Parrish SB Nation: Tom Ziller  .....»»

Category: sportsSource:  abscbnRelated NewsJun 17th, 2018

Workers raise alarm over peso fall

Labor groups have voiced alarm over the drop of the peso against the US dollar to its lowest level in 12 years, but some business groups are not worried.   The peso closed at P53.27 to a dollar on Thursday, a further deterioration from the P53.23 the day before and a big drop from Monday's P52.95.   At P53.27, the currency is higher than the government exchange rate assumption of P50 to P53 for 2018.   "It's no cause for concern," said George Barcelon, chair of the Philippine Chamber of Commerce and Industry. Barcelon noted that other currencies in the region have weakened against the US dollar as well.   'Manageable'   "As long as i...Keep on reading: Workers raise alarm over peso fall.....»»

Category: newsSource:  inquirerRelated NewsJun 15th, 2018

U.S. Fed raises interest rates anew

The U.S. Federal Reserve on Wednesday raised short-term interest rates by a quarter of a percentage point, its second rate hike this year and the seventh since late 2015. “In view of realized and expected labor market conditions and inflation, the (Federal Open Market) Committee decided to raise the target range for the federal funds […].....»»

Category: newsSource:  tribuneRelated NewsJun 14th, 2018

US Fed hikes key rate, signals more hikes coming

WASHINGTON, D.C.: The US Federal Reserve raised the benchmark lending rate on Wednesday for the second time this year, and signaled it will be more aggressive about rate increases in 2018 and 2019 amid “strong” economic growth. And although he acknowledged concern among businesses nationwide about the uncertainty created by President Donald Trump’s abrasive trade [...] The post US Fed hikes key rate, signals more hikes coming appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 14th, 2018

PSEi down anew after Fed rate hike

THE stock market fell by nearly one percent on Thursday as investors reacted to a fresh US interest rate hike and a further weakening of the peso. The benchmark Philippine Stock Exchange index (PSEi) lost 73.44 points or 0.97 percent to close at 7,529.54 while the broader All Shares slipped 0.78 percent or 36.17 points to end [...] The post PSEi down anew after Fed rate hike appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 14th, 2018

Fed raises key rate and sees possible acceleration in hikes

The Federal Reserve took note of a resilient U.S. economy Wednesday by raising its benchmark interest rate for the second time this year and signaling that it may step up its pace of rate increases......»»

Category: newsSource:  philstarRelated NewsJun 14th, 2018

Peso falls to 53.23:$1, a 12-year low

  The peso fell to its weakest level against the US dollar in 12 years on Wednesday as traders digested dovish statements of central bank officials that made financial markets uncertain about another interest rate hike next week to help cap local consumer prices.   At the same time, investors also unloaded the peso and shifted to the dollar without waiting for the outcome of a US Federal Reserve meeting where markets expected the world's most influential central bank to raise its own interest rates for the second time this year.   Weakest since 2006   The peso opened Wednesday's trading session weaker at P53 to the dollar, from the previous tr...Keep on reading: Peso falls to 53.23:$1, a 12-year low.....»»

Category: newsSource:  inquirerRelated NewsJun 14th, 2018

Peso pierces 53:$1, lowest in 12 years

The peso pierced the 53 to $1 resistance level yesterday, closing at a new 12-year low as traders braced for widely expected policy rate increase of the US Federal Reserve......»»

Category: financeSource:  philstarRelated NewsJun 13th, 2018

Central bank faces ‘complex’ policy environment

THE MONETARY BOARD (MB) is gearing up for an earlier rate-setting meeting next week as it faces a “fairly complex” mix of faster inflation, a weakening peso and robust economic growth. The post Central bank faces ‘complex’ policy environment appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsJun 13th, 2018