Back to Work anxiety

Four day weekend. Two days of which only the Philippines is on holiday and most of the world is not. Like New York. Two days chock full of economic data that have me thinking what direction the USD/PHP is gonna go today.

The Fed cut rates as expected. As far as interest rate differential goes, that means higher value for the Peso. The Fed's expected to cut rates again in December.

More subprime mortgage worries with Citigroup joining THE list. That means risk aversion and fund managers avoiding large exposure to emerging markets like the Philippines. That creates demand for the dollars.

Four day weekend ... that means larger than usual dollar remittances accumulated, waiting to be dumped in the market. That will support the Peso.

Damn! We're gonna end up gripping the receiver to the broker boxes as we wait for trading to start this morning. This will be an interesting ride.

I've been avoiding thinking about this all weekend even as I drink in the news. It's one of those times when I hate not being able to react to the world market because Manila is on vacation.

Gotta love the Euro and Pound. They've skyrocketed through the roof again.

Gotta get my bum off this seat, shut down the PC, and prepare to go to work.

-------edit---------

EUR and GBP did reach their all time high against the dollar last week. On the home front though, subprime concerns supported the dollar.

We think there's still a huge volume of dollar remittances that haven't been dumped in the market ... and that will lend strength to the peso.