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

EUR/USD consolidates near 1.12 amid a lack of catalysts

After testing the 1.12 handle in the early NA session, the EUR/USD pair is having a tough time recovering its losses as the greenback remains bid. As of writing, the pair was trading at 1.1210, down 0.3% on the day.

Earlier in the session, the US Dollar Index surged to its session high above the 97 handle following the upbeat ADP private sector employment and manufacturing PMI reports. However, the index failed to build on its gains as investors remain skeptical about the USD ahead of tomorrow's non-farm payroll report. Furthermore, political turmoil seems to come back to life as it was recently announced that the former FBI director Comey will be testifying in an open and closed session on June 8 before the Senate intelligence committee investigating Russian activities during last year’s election in an open and closed session afterward.

  • Ex-FBI James Comey to testify before US Intelligence Committee on June 8 - BNO News

Although a June rate hike by the Fed seems inevitable at this point, a weak NFP reading could still hurt the greenback as it would diminish the odds of two more rate hikes in 2017. Tomorrow's economic docket will also feature the producer price index data from the euro area but it's unlikely to cause any market reaction.

  • Nonfarm Payrolls Preview: get ready to be disappointed. Again

Technical outlook

The pair has been trading in a horizontal band in the last 10 days and it could make the next sizeable move with a decisive break out of this channel. 1.1265 (May 23 high/upper range of the channel) is the initial resistance ahead of 1.13 (psychological level/Nov. 9 spike) and 1.1365 (Aug. 18 high). On the downside, supports align at 1.1100 (Fib. 23.6% retracement of Apr. 10 - May 23 rise), 1.10 (psychological level/ Fib. 38.2%) and 1.0930 (Fib. 50%). 

  • EUR/USD bullish above 1.1300 – UOB

EZ's legacy of debt hampers recovery - BBH

Analysts at Brown Brothers Harriman explained that the legacy of bad debt continues to hamper a broader recovery in the euro area.  Key Quotes: "Eur
Read more Previous

USD/RUB flashing a “Death Cross” signal

USD/RUB flashing a “Death Cross” signal
Read more Next