Asia Spill-Over Effects From Wall Street

Recovering lost ground in Equities, Oil and the precious metal have been the main drivers of what investors are seeing from the markets decline for more than a month and a half since opening of the new year. The surge on Wall Street have likewise given Asian markets that added lift prompting even the JPN 225 a boost as it moves @16753 levels in line with the USD/JPY  @114.00 to this writing. We'll keep focus on the market behavior moving forward at the beginning of the new month's trading activity.

Meanwhile, the spill over effects of a Wall street rally & other Asian exchanges have given some life for Philippines Stock Exchange Index (PSEI) above the 6800 handle that gave the USD/PHP currency a move @47.15 contrary to a steady USD strength on a day basis. Trading the Philippine market with its US counter-part on the EPHE ETF have outpaced the PSE Index due to its higher liquidity and room to make adjustments along the DOW & SP500 as an alternative strategies not commonly available to PH main-street investors.  

Although the market is limited, the PHP currency is still well within its upper band range with a few probable hiccups on the downside before a resumption can be made since its the election campaign period is well underway. The 48.15 levels is an initial near term cap. Unlike the rest of the majors which has a wider price range to move as they are globally & openly traded in the market; unlike the USD/PHP which is quite limited & so do with the PSE Index.