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
12 Apr 2018

Gold reverses a major part of previous session’s strong gains

   •  A strong USD rebound prompts some aggressive selling.
   •  Improving risk-appetite adds to the downward pressure.
   •  Gains some respite from disappointing US weekly jobless claims.

Gold extended its steady decline through the mid-European session and retreated farther from YTD highs, retested in the previous session.

A strong US Dollar rebound, following the release of latest FOMC meeting minutes, prompted some aggressive selling during the NY trading on Wednesday. The greenback continued gaining positive traction on Thursday and kept exerting downward pressure on dollar-denominated commodities - like gold.

This coupled with growing bets for a faster Fed monetary policy tightening cycle and a modest uptick in the US Treasury bond yields further collaborated towards driving flows away from the non-yielding yellow metal.

Moreover, a slight improvement in investors' risk-appetite, as depicted by a minor rebound in equity markets, further weighed on the precious metal's safe-haven appeal and did little to stall the downfall back closer to $1340 level. 

The selling pressure abated, at least for the time being, following the release of higher than expected US weekly jobless claims data. Moving ahead, the USD price dynamics/broader market risk sentiment might continue to act as key determinants of the commodity's movement through Thursday's trading session.

Technical levels to watch

Weakness below $1340 level is likely to get extended towards $1332 horizontal level before the commodity eventually drops to test $1326-25 support area. On the upside, any up-move might continue to confront strong resistance near the $1352-53 region, above which the commodity seems to aim back towards retesting $1365-66 supply zone.
 

Apr 12, 2018

EUR/JPY weaker, challenges 132.00

The strong and renewed selling bias around both the Japanese safe haven and the European currency are now sending EUR/JPY to the vicinity of the 132.0
Read more Previous
Apr 12, 2018

EUR/GBP under pressure post-data

The EUR/GBP is trading at around 0.8676 down 0.55 % on Thursday. The cross took a dive on the back of dovish ECB’s minutes. Later on ECB’s Coeure said
Read more Next