Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
28 Nov 2022

USD/JPY aims to test 140.00 as risk-off profile rebounds, Fed Powell’s speech eyed

  • USD/JPY is marching towards 140.00 as China’s anti-Covid lockdown-inspired fears have triggered negative sentiment.
  • China’s individuals are demanding democracy against dictatorship in their protests.
  • Fed Powell’s speech will provide more clarity on chatters over interest rate action in the December meeting.
  • Japan’s employment and Retail Trade data will remain in focus.

The USD/JPY pair has sensed a decent buying interest after testing the 139.00 support in the early Tokyo session. The asset is aiming to extend its recovery towards the round-level resistance of 140.00 as the risk-off profile has come in action led by escalating civil risks in China.

Individuals are shouting slogans of ‘XI Jinping Go Down’ as strict Covid-19 restrictions by the Chinese authorities to contain the spread have frustrated the general public. Covid-19 cases in China recorded a massive high of around 40,000 on November 26, therefore, the administration is bound to keep the zero-Covid policy in action.

Escalated anti-Covid protests have triggered the risk of economic slowdown and further risk to already vulnerable real estate demand. Also, the demand for democracy not dictatorship from China’s individuals in a state of anger and frustration due to Covid-19 restrictions has underpinned the risk-aversion theme.

The US Dollar Index (DXY) has extended its recovery to near 106.32 and is likely to remain solid. S&500 futures have displayed some sell-off in Tokyo, portraying a risk-off impulse in action. Meanwhile, the 10-year US Treasury yields are holding at 3.70% ahead of a speech from Federal Reserve (Fed) chair Jerome Powell.

The speech from Fed Chair will provide more clarity on chatters over the conclusion of the 75 basis points (bps) rate hike structure by the Fed. As United States inflation has shown meaningful exhaustion in its October report, Fed policymakers have vouched for a ‘less-hawkish’ stance in December monetary policy meeting by the Fed.

On the Tokyo front, investors are shifting their focus toward the employment data, which is due on Tuesday. The Unemployment Rate is expected to decline to 2.5% vs. the prior release of 2.6%. Also, the Jobs/Applicants ratio is expected to display an improvement.

Apart from that, Retail Trade data will also remain in focus. The annual economic data is seen higher at 5.0% while monthly data could show a negative growth of 0.3%.

 

Nov 28, 2022

WTI Price Analysis: Bears poke $76.00 with eyes on further downside

WTI crude oil price stays depressed as it flirts with $76.00 during early Monday. In doing so, the black gold drops for the second consecutive day whi
Read more Previous
Nov 28, 2022

Australia Retail Sales s.a. (MoM) registered at -0.2%, below expectations (0.4%) in October

Australia Retail Sales s.a. (MoM) registered at -0.2%, below expectations (0.4%) in October
Read more Next