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
Trading news
Back
29 Mar 2023

USD/CHF rebounds from 0.9200 as safe-haven appeal of Swiss Franc dents, USD Index tumbles

  • USD/CHF has shown a recovery above 0.9200 despite the further correction in the US Dollar.
  • The reputation of the Swiss Franc as a safe-haven has been significantly dented after the Credit Suisse collapse.
  • It seems that stubborn US inflation would be handled by tight credit conditions from US banks ahead.

The USD/CHF pair has recovered after a minor correction below 0.9200 in the early Tokyo session. The Swiss Franc asset has shown a recovery despite a firm correction in the US Dollar Index (DXY). The demise of Credit Suisse has dented the reputation of the Swiss Franc as a safe-haven.

The Swiss Franc used to be the first choice of investors if the US Dollar went through turbulent times. US banking shakedown resulted in a sheer demand for the Japanese Yen and the Gold while Swiss Franc weakened further against the mighty US Dollar after the Credit Suisse collapse. Money managers ditched the Swiss franc at the fastest rate in two years last week in the run-up to the dramatic takeover of Credit Suisse by UBS, as reported by Reuters.

Meanwhile, correction in the USD Index has extended to near 102.40 as the Federal Reserve (Fed) is expected to take the route of steady monetary policy in times when the US banking system is going through major headwinds. While stubborn inflation would be handled by tight credit conditions from US banks. Disbursement of advances to households and businesses will go through more filters as banks are required to remain precautions in times of higher interest obligations.

Going forward, the release of the Quarterly Bulletin (Q1) by the Swiss National Bank (SNB) will be keenly watched. The Quarterly Bulletin will be filled with monetary policy report and business cycle trends in the Swiss region. Inflationary pressures in the Swiss region are beyond the control of the SNB. And, SNB Chairman Thomas J. Jordan has already confirmed more rates head to contain higher Consumer Price Index (CPI).

 

Mar 29, 2023

AUD/JPY Price Analysis: Climbs despite a sour market sentiment, buyers' eye 88.00

AUD/JPY edges down as the Asian session begins, but Tuesday’s gains opened the door for further upside in the pair. However, the AUD/JPY is still down
Read more Previous
Mar 29, 2023

AUD/NZD Price Analysis: Tuesday’s Doji teases bears above 1.0700, Australia Monthly CPI eyed

AUD/NZD portrays the pre-data anxiety by making rounds to 1.0700 during early Wednesday, waiting for Monthly Consumer Price Index (CPI). In addition t
Read more Next