US inflation data may impact the Philippine stock market's ability to surpass 7,000.
US inflation data expected to influence stock markets. The Philippine Stock Exchange Index (PSEi) closed at 6,942.21 last Friday, a 0.33% weekly gain. The local stock index's ability to break past the 7,000 mark may depend on how US equity markets react to the US February consumer price index print. If the data supports bullish bets of a Federal Reserve policy rate cut in June, the Philippine market may benefit from a risk-on sentiment.
March 10, 2024
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