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
16 Oct 2023

USD/CHF holds ground above major level at 0.9000 ahead of US Retail Sales

  • USD/CHF continues to lose ground on the Fed’s interest rate uncertainty.
  • Safe-haven Swiss Franc receives flows due to the risk aversion over Middle-East conflict.
  • The recovery in US bond yields could limit losses of the US Dollar.

USD/CHF extends the losing streak on the second consecutive session, trading lower around 0.9020 during the Asian session on Monday. The uncertainty regarding the Federal Reserve's (Fed) future decisions on interest rates is contributing to a complex and fluctuating environment for the US Dollar (USD).

Furthermore, the Swiss Franc (CHF) seems to be receiving buying support amid the military conflict in the Middle East, as the currency is considered a safe haven during times of geopolitical uncertainty. Investors seeking refuge in a stable and secure currency may be contributing to the strength of the CHF in the current geopolitical landscape.

According to an undisclosed source cited by Reuters, discussions have taken place between US officials and Israel regarding the potential visit of President Joe Biden to Israel. The reported invitation for this visit comes from Israeli Prime Minister Benjamin Netanyahu.

On Friday, the Swiss Producer and Import Prices (YoY) recorded a 1.0% decline in September, an increase from the previous decline of 0.8%. Meanwhile, the monthly data indicated a decrease of 0.1%, contrasting with the 0.8% decline observed in August. Trade Balance for September will be released later in the week.

Multiple Fed officials signaled a potential delay in a rate hike for November due to the surge in bond yields, causing tightened financial conditions, is acting as a headwind for the USD/CHF pair.

The US Dollar (USD) faces challenges following the release of the preliminary US Michigan Consumer Sentiment Index for October on Friday, showing a decline to 63.0 from the previous reading of 68.1, falling short of the expected 67.4.

The US Dollar Index (DXY) trades slightly lower around 106.50. The recovery in US Treasury yields from recent losses may contribute to supporting the Greenback. The 10-year US Treasury bond yield stands at 4.67%, up by 1.37%, by the press time.

The upcoming release of US Retail Sales (MoM) on Tuesday is anticipated to show a 0.2% rise in September compared to the previous reading of 0.6%, and this data could influence market dynamics and the USD/CHF pair

 

Oct 16, 2023

NZD/USD: Technical outlook will sour if Kiwi makes a new cycle low – ANZ

NZD/USD ended the week a lot lower. Economists at ANZ Bank analyze Kiwi’s outlook. Q3 CPI key for the RBNZ, and by extension, short-end rates and NZD
Read more Previous
Oct 16, 2023

EUR/JPY Price Analysis: Gains traction near 157.50, the key contention is seen at 157.00

The EUR/JPY cross gains momentum around 157.48 during the early European session on Monday. The cross bounces off Friday’s low of 157.05 amid the impr
Read more Next