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
9 Apr 2018

USD/CAD sits at session tops, back closer to 1.28 handle

   •  A goodish pickup in the US bond yields underpins USD demand.
   •  Bullish oil prices now seemed to keep a lid on further up-move.
   •  Traders now eye BoC business outlook survey for fresh impetus.

After an initial dip to 1.2760 level, the USD/CAD pair regained some positive traction and was now seen building on Friday's recovery move from over 1-month lows.

With investors looking past the latest US jobs report, a goodish pickup in the US Treasury bond yields helped the US Dollar to catch some fresh bids at the start of a new trading week and was seen as one of the key factors driving the pair higher. 

However, the prevalent positive trading sentiment around crude oil prices might underpin demand for the commodity-linked currency - Loonie and might collaborated towards keeping a lid on any strong up-move, at least for the time being. 

Meanwhile, today's modest uptick could also be attributed to some short-covering from a technically important moving average support, marked by 50-day SMA. Hence, it would be prudent to wait for a strong follow-through buying interest before confirming that the pair might have formed a firm base in the near-term. 

With an empty US economic docket, today's release of the quarterly BoC Business Outlook Survey should influence the Canadian Dollar and eventually provide some fresh impetus later during the early NA session.

Technical levels to watch

Bulls would be eyeing for a clear break through the 1.2800 handle, above which the pair seems all set to aim towards testing the 1.2835-40 hurdle before eventually darting towards reclaiming the 1.2900 round figure mark.

On the flip side, the 50-day SMA, currently near mid-1.2700s, might continue to protect the immediate downside, which if broken could accelerate the fall towards 100-day SMA support near the 1.2700-1.2695 region.
 

Apr 9, 2018

EUR/USD re-tests offers near 1.2285 post-Sentix

The EUR/USD pair reversed a sharp dip to 1.2260 levels and made headways back to test the 1.23 handle, but in vain, as the bears continue to guard the
Read more Previous
Apr 9, 2018

China’s Li: China will protect the global free trade system

More comments flowing in from China Premier Li Keqiang, as he continues to speak on trade and economy: China will further deepen reforms and opening
Read more Next