Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
Wall Street Ends Mixed as Weak Jobs Data Lowers Fed Rate Hike Bets, Chip Stocks Tumble 
Asian Currencies Stay Under Pressure as Dollar Holds Near 13-Month High Ahead of U.S. Jobs Report 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
Gold Price Holds Above $4,000 as Fed Rate Hike Expectations and U.S. Jobs Data Weigh on Market 
BOJ Raises Interest Rates to 1% as Inflation Pressures Persist 
China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery 
Japan Signals Surprise Yen Intervention Strategy as BOJ Hawkish Stance Puts FX Traders on Alert 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Taiwan Central Bank Likely to Keep Interest Rates Unchanged Through 2027 
Asian Currencies Rise as Dollar Weakens; Yen Holds Steady Amid Japan Intervention Watch 
Turkey Vehicle Sales Fall 11.4% in June as Auto Market Weakens 
Moody’s Says Peru’s President-Elect Keiko Fujimori Could Boost Investor Confidence 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Trump Administration Declines USMCA Renewal, Opens Talks on New Trade Changes 
The Bangko Sentral ng Pilipinas (BSP) is expected to hold its monetary policy meeting on Thursday, August 10 and the decision will be released by 08:00 GMT. The fourth largest bank by market capitalization in Australia, ANZ Research said in its latest report that the Philippines central bank to keep its policy rate unchanged at 2.50 percent, 3.00 percent, and 3.50 percent at their interest rate setting meeting.
The bank note also mentioned that the headline inflation will likely stay anchored in the BSP’s 2-4 percent target range this year. However, the ANZ Research expects the BSP to keep a cautious tone in its policy statement. The knock-on effects on consumer prices of the tax reform, along with the pending upward adjustments to electricity rates, keep the risks to inflation tilted to the upside.
The research note added that the country’s credit growth continues to rise and net of reverse repurchase (RRPs) placements, commercial bank loans rose 19.0 percent y/y in June, maintaining their uptrend since mid-2015. Lending to the real estate sector continues to dominate the increase in lending.
Considering the easing of GDP growth to a more stable path and the deterioration of the current account into a deficit, the increasing credit intensity calls for monetary tightening in the foreseeable future. Lastly, the ANZ forecasts 25 basis points hike in the interest rate corridor by the end of the year.
Meanwhile, FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
