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Overseas news
In the US, stocks surged over 1% on Monday as oil prices dropped. This came after US President Donald Trump announced that military strikes on Iran would be delayed following constructive talks with Tehran.
The current Middle East conflict is impacting countries worldwide, due mostly to its effect on international oil supplies.
Meanwhile, Eurozone consumer confidence dropped sharply in March to its lowest since late 2023. This was due mostly to the US-Iran conflict and soaring energy costs.
As the name may suggest, consumer confidence can show how regular people view an economy’s performance, as well as business and buying conditions, and their personal finances.
Spending may increase when confidence is high, and the opposite when it is low.
Local developments
The benchmark index for Philippine stocks sank below 5,900 while the peso hit its lowest close of 60.30 per dollar on Monday.
Also, Moody’s Analytics lowered its 2026 Philippine GDP growth forecast to 4.9%. It cited weak domestic momentum and the Middle East-driven energy crisis as the main drivers.
The situation in the Middle East and its effect on oil supply and prices are impacting the local economy in many ways. The stock market, peso-dollar rate, and growth forecast, among others, are representative of this.
As the US-Iran conflict continues, oil prices may continue to be unstable. For now, avoiding big changes to your investments and continuing your strategy might be the right decision for you.
