India Manufacturing Growth Hits Seven-Month High in September 
Japan Factory Output Unexpectedly Falls 1.7% in August 
US Alcohol Ban Exposes Canada’s Internal Trade Barriers 
South Korea Exports Surge 83.5% on AI Chip Boom 
Oil Prices Steady as Middle East Crude Flows Recover 
Asian Currencies Mixed as Yen Slides on BOJ Rate Signals 
Trump Eyes $54 Billion South Korean Investment in Alaska LNG 
Australia Inflation Accelerates to 4% After RBA Rate Hike 
Nasdaq Futures Jump as Micron Earnings Boost AI Trade 
Add as a preferred source on Google
Economic growth in the Philippines is expected to stay strong. But this will not help the peso, as the deterioration in the current account will remain a drag on the currency. Strong domestic demand has seen import growth outpace exports, leading to large trade deficits.
Growing remittances and business process outsourcing (BPO) receipts have not been enough to offset that. The risk is that overheating of growth could lead to a current account deficit for the first time since 2003. The last time the Philippines ran current account deficits, the peso was trading in a 52-55 range.
"We have downgraded our PHP forecasts, and now expect it to weaken to 51.5 by the end of 2017, from 51.0 previously," ANZ Research commented in its recent report.
