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

Gold heads south after volatility settles post FOMC neutral statement

  • As widely expected, the FOMC opted to leave the Fed funds rate in the range of 1.00% to 1.25%.
  • Odds of a Fed hike at 82 vs 81 pre-announcement.
  • The 10-year yield is down about 2.5 basis points.
  • Gold initially went bid on the FOMC statement from $1,274.75 to $1,279.10 the high before selling off making a fresh low for the session of $1,273.63 and bid back up to $1,275.91 where the price steadied 20 minutes after the event. 

The FOMC statement came in as expected. Policy remains accommodative. The Economy will warrant gradual rate increases. The balance sheet will continue to run off. Economic activity has risen at a solid pace despite the hurricane headwinds.

Fed meeting: Interest rates unchanged at November meeting

Main headlines from the Fed statement:

  • Economic activity rising at "solid rate" despite storms
  • Labor market continues to strengthen
  • Inflation remains soft even though gasoline price rises after hurricanes boosted inflation
  • Measures of longer-term inflation expectations little changed
  • Balance sheet taper continuing
  • Household spending has been expanding at a moderate rate
  • Growth in business fixed investment has picked up in recent quarters
  • Fed meeting: Interest rates unchanged at November meeting 

Gold levels

Gold is carving out fresh lows in a bearish grind on the second attempt of a challenge to 31st Oct uptrend from circa 1270. 1272.19 is the first target and where bears failed in London.  All in all, the price is deeper below the 200-hourly SMA with and bears eye 1256-55 as an intermediate support ahead of the 1250 level. On the flipside, the 1280 zone is an immediate resistance, ahead of the 21-day SMA at 1281 region. The triple daily top at 1284.00 does not bode well for the price either while RSI is biased to the downside on the daily sticks. 

USD/JPY rises above 114 after FOMC releases policy statement

With the knee-jerk response to the FOMC decision, the USD/JPY pair edged down to the 113.80 region before reversing course and advancing above the 114
Read more Previous

AUD/USD little changed after Fed’s decision, remains around 0.7670

The AUD/USD pair rose 15 pips after the release of the FOMC statement and the pulled back, falling slightly below 0.7670, the level it had before...
Read more Next