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/CHF advances above 97 on solid ADP report

Following a failed attempt to stay above the 0.97 handle, the USD/CHF pair eased to 0.9690 ahead of the NA session start but gathered momentum once again as the private sector employment report from the U.S. beat the expectations. After reaching its session high at 0.9717, the pair went into a consolidation phase in the last hour and is now trading at 0.9710, gaining 0.32%, or 31 pips, on the day.

According to ADP, private-sector employment in the U.S. increased by 253K on monthly basis in May, led by the professional and business service, which recorded their strongest monthly increase in more than a decade. Other data from the U.S. showed that the advance figure for seasonally adjusted initial claims rose to 248K from 235K for the week ending May 26. However, the less volatile 4-week average remained near its lowest level in more than 40 years.

  • US: Weekly initial claims was 248,000, an increase of 13,000 from the previous week
  • US: Private-sector employment increased by 253,000 from April to May - ADP

On the other hand, Federal Reserve's Governor Jerome Powell earlier in the NA session suggested that it would be appropriate for the Fed to continue gradual rate hikes as the recent inflation data points to a rebound. Following the upbeat ADP data and these hawkish comments, the US Dollar Index holds on to its gains above the 97 handle. At the moment, the index is at 97.12, up 0.22% on the day.

Technical outlook

With a decisive break above 0.9740 (May 30 high), the pair could extend its bullish momentum towards 0.9800 (psychological level/Fibo 23.6% retracement of May 11-22 drop) and 0.9845 (Fibo 38.2%). On the flip side, 0.9665 (May 31 low/near 6 months low) is a critical support ahead of 0.9640 (Sept. 29 2016 low) and 0.9600 (psychological level).

 

USD/CAD retreats from highs, near 1.3500 ahead of ISM

The greenback is clinging to its daily gains vs. its Canadian neighbour in the second half of the week, with USD/CAD now hovering over the 1.3500 neig
Read more Previous

AUD/USD stays offered below 0.7530 – Commerzbank

The stance on the Aussie Dollar remains offered while below the key 200-day sma in the 0.7530 region, according to Karen Jones, Head of FICC Technical
Read more Next