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The market traded in a tight range last week, however, the PSEi still closed below the 200-day MA.

Participants might look forward for 1Q23 earnings guidance for most of the week, as several listed firms line-up for their annual generation meeting (AGM) season.

Sentiment might take its cue from US equities’ overnight advance (DJIA +1.14%, Nasdaq Comp. +1.99%), as well as indications from BSP Gov. Medalla for consideration of rate pauses given the recent MoM inflation trend.

Mixed views are seen, as fund managers balance inflation estimates against the recent uptick in crude prices.

After a few small continuous uptrends, the PSEI has finally went back to 6,500 where prices managed to briefly consolidate.

The market traded in a tight range last week, however, the PSEi still closed below the 200-day MA.

Sessions might trend higher, as participants cheer slower inflation for March (7.6% vs. Feb.’s 8.6%).