Inflation data release Peso rebounds before September

This image is about Philippines peso and US dollar

Before local economic data was made available, the Philippines peso bounced up against the US dollar. 12.5 cents of the local currency fell to P51,815:$1 versus P51,94:$1 on Wednesday.

The Philippine Statistics Authority (PSA) is scheduled to release September inflation data on Friday, October 4, with the central bank forecasting a slowdown to settle between the range of 0.6 to 1.4%.

In contrast, the publication of recent economic data in the USA has also weighed up the greenback.

The US producer’s activities have, according to a Reuters survey, been tumbling over a decade-long, raising fear that America’s economy is beginning to be affected by the effects of its trade war with China.

The latest data from the US production decreased to 47.8 levels, the lowest level since June 2009, in more than nine years.

The read below 50 indicates a decline in the industry, while the above reading signals recovery, with markets, expected to return to 50 for the index.

Read more related  about the Filipinolive Business: https://www.filipinolive.com/category/business/

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