PH stocks seen moving sideways ahead of macroeconomic data

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Defining the News

Local shares are expected to move sideways this week as investors brace for the release of April 2024 inflation rate and other key macroeconomic data.

Other macroeconomic reports slated for release this week are trade deficit/imports/exports on May 8; employment and bank loans and domestic liquidity . Ricafort said the BSP could match the US Federal Reserve’s latest rate pause on May 1, 2024 to maintain healthy interest rate differentials to help support/stabilize the peso exchange rate, import prices and overall inflation.He said a pause in local policy rates is possible if the peso exchange rate remains relatively stable, global crude oil prices continue to drop and headline inflation remains within the BSP’s inflation target of 2 percent to 4 percent.

Online brokerage firm 2TradeAsia.com said the deluge of first-quarter financial reports over the next two weeks could provide a boost to the market over the short term.

 

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