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
5 Jul 2016

NZD/USD slides further below 0.7200 level, eyeing GDT price index

After posting gains for five consecutive session, the NZD/USD pair is witnessing a corrective move on Tuesday and is now sustaining its weakness below 0.7200 handle.

The pair on Tuesday lost its upside momentum despite of a jump in NZIER Business Confidence index during the second quarter of 2016. The index rose to show the highest level of optimism since the first quarter of 2015. 

The latest leg of weakness is led by reemergence of risk-off trade in global financial markets, which is seen denting demand for riskier assets - like equities and commodity, and eventually dragging commodity-linked currencies - like the Kiwi, lower.

Moreover, traders might also be inclined to take some profit off the table after post-Brexit rally of nearly 200-pips from sub-0.700 touched in the aftermath of the historic Brexit referendum.

Going forward, investors will now look forward to today's GDT price index ahead of key US releases that include - FOMC meeting minutes on Wednesday and Friday's NFP data, in order to determine the near-term direction for the pair.

Technical levels to watch

From current levels, the pair is likely to find some immediate support around 0.7155-50 region, below which the corrective move could get extended towards 0.7100 round figure mark. On the upside, 0.7225-30 remains immediate resistance to clear, which if conquered should boost the pair immediately towards pre-Brexit swing highs resistance near 0.7300 round figure mark.

Jul 5, 2016

EM assets now appear relatively more attractive - SocGen

Research Team at Societe Generale, suggests that the Brexit dimensions most relevant for emerging markets are the impact on risk sentiment, downward p
Read more Previous
Jul 5, 2016

G10 and EM: Volatility sharply up following Brexit – Deutsche Bank

Research Team at Deutsche Bank, suggests that the trendiness in the G10 universe has remained at decent levels, largely driven by EUR/GBP and USD/JPY
Read more Next