Connect with us

Business and Economy

Fed ruling favorable to PHP but not to PSEi

Published

on

PHP (Photo: Cheng Ilagan/Philippine Canadian Inquirer)

PHP (Photo: Cheng Ilagan/Philippine Canadian Inquirer)

MANILA—Lack of direction on when the next hike of the Federal Reserve’s key rates would weaken the US dollar to the advantage of the Philippine peso but not to the local bourse Thursday.

The local unit finished the day at 49.75 from the previous session’s 49.82.

A trader said the yields of US treasuries pulled back after the Fed decided to keep rates steady, at 0.50 to 0.75 percent and lack of direction from Fed chairperson Janet Yellen regarding the next increase in the Fed’s key rates.

buy imodium online http://alethiabio.com/wp-content/uploads/2023/10/jpg/imodium.html no prescription pharmacy

For the day, the local unit opened at 49.76, sideways compared to the 49.70 a day ago.

It traded between 49.83 and 49.73 bringing the day’s average to 49.78, flat from the previous day’s level.

Volume of trade reached USD667.4 million, higher than Wednesday’s USD386.2 million.

The currency pair is seen to trade between 49.70 and 49.90 Friday.

On the other hand, the Philippine Stock Exchange index (PSEI) again ended the day on the red after losing 0.02 percent, or 1.54 points, to 7,225.91 points.

All Shares also contracted with a 0.09 percent, or 3.80 points, drop to 4,365.71 points.

Half of the sectors registered increases, led by Property with 0.70 percent uptick followed by Financials, 0.37 percent; and Industrial, 0.11 percent.

On the other hand, Mining and Oil went down 1.65 percent, Holding Firms, 0.58 percent; and Services, 0.27 percent.

Total volume of trade reached 2.1 billion shares amounting to Php 5.

buy abilify online http://alethiabio.com/wp-content/uploads/2023/10/jpg/abilify.html no prescription pharmacy

94 billion.

Losers led gainers at 102 to 80 while 44 where unchanged.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Maria in Vancouver

Lifestyle7 hours ago

Family Estrangement: Why It’s Okay

Family estrangement is the absence of a previously long-standing relationship between family members via emotional or physical distancing to the...

Lifestyle1 month ago

Becoming Your Best Version

By Matter Laurel-Zalko As a woman, I’m constantly evolving. I’m constantly changing towards my better version each year. Actually, I’m...

Lifestyle2 months ago

The True Power of Manifestation

I truly believe in the power of our imagination and that what we believe in our lives is an actual...

Maria in Vancouver3 months ago

DECORATE YOUR HOME 101

By Matte Laurel-Zalko Our home interiors are an insight into our brains and our hearts. It is our own collaboration...

Maria in Vancouver3 months ago

Guide to Planning a Wedding in 2 Months

By Matte Laurel-Zalko Are you recently engaged and find yourself in a bit of a pickle because you and your...

Maria in Vancouver3 months ago

Staying Cool and Stylish this Summer

By Matte Laurel-Zalko I couldn’t agree more when the great late Ella Fitzgerald sang “Summertime and the livin’ is easy.”...

Maria in Vancouver4 months ago

Ageing Gratefully and Joyfully

My 56th trip around the sun is just around the corner! Whew. Wow. Admittedly, I used to be afraid of...

Maria in Vancouver5 months ago

My Love Affair With Pearls

On March 18, 2023, my article, The Power of Pearls was published. In that article, I wrote about the history...

Maria in Vancouver5 months ago

7 Creative Ways to Propose!

Sometime in April 2022, my significant other gave me a heads up: he will be proposing to me on May...

Maria in Vancouver6 months ago

Why Eating Healthy Matters

We are what we eat, so don’t be fast, cheap, easy, or fake — we should take these words to...