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.
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.
Octa trading broker
Open trading account
Back

USD/CAD clings to gains above 1.3000 handle after US releases

Extending Friday's sharp reversal from 1.2830 region, the USD/CAD pair maintained its strong bid tone and is continued building on to its gains above 1.3000 psychological mark to currently trade around 1.3015-20 band after the release of US economic data. 

Today’s economic data released from the US, namely Core PCE Price Index, Personal Income and Spending data for July were in-line with estimates and had a little impact on market expectations of an eventual Fed rate-hike action. 

Meanwhile, softer tone surrounding crude oil prices is also weighing on the commodity-linked currency, the Canadian Dollar and helping the pair to build on to its break-out momentum above 100-day SMA strong resistance. 

Moving ahead, market participants now shift their focus to this week's keenly watched macro indicator from the US, monthly jobs report, popularly known as NFP, in order to evaluate the possibilities of a September Fed-rate hike decision, which would provide an additional leg of up-move for the greenback and continue driving the major higher. 

Technical levels to watch

From current levels, 200-day SMA near 1.3060-65 region seems is likely to act as immediate strong resistance above which the pair seems all set to extend its appreciating move beyond 1.3100 handle, towards testing monthly high resistance near 1.3190 level. On the flip side, weakness below 1.3000 handle, leading to a subsequent break below 1.2980 support, might now find strong support at 100-day SMA resistance break point near 1.2930-25 region.

United States Personal Consumption Expenditures - Price Index (YoY) fell from previous 0.9% to 0.8% in July

United States Personal Consumption Expenditures - Price Index (YoY) fell from previous 0.9% to 0.8% in July
Read more Previous

US Personal spending rose in July

US personal spending rose a seasonally adjusted 0.3% in July, the Commerce Department said on Monday. Meanwhile, data showed personal income climbed 0
Read more Next