The EUR to PHP exchange rate is currently range-bound, showing stability with slight upward bias.
Key drivers include:
- The European Central Bank (ECB) maintained interest rates, which is a stabilizing factor for the euro, though it is wary of a strong euro potentially lowering inflation.
- The Bangko Sentral ng Pilipinas (BSP) cut rates recently, leading to downward pressure on the Philippine peso as market expects continued easing.
- Economic growth forecasts for the Eurozone are positive, while concerns about the Philippines' economic performance are reflected in revised GDP growth rates.
Expect the EUR to PHP to trade within a stable range as both currencies react to upcoming economic data.
An upside risk could be positive economic indices from Germany boosting the euro, while a downside risk includes any escalation of political instability in the Philippines affecting investor confidence.