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
4 May 2018

Oil rebounding on Dollar hesitation, WTI at $68.25

  • Oil still managing to bound higher on Iran tension even as production completely outstrips demand.
  • US rig counts could expose weak points in the charts to cap off the week.

Crude oil rebounded in Thursday's US session and WTI is holding near 68.25.

Concerns over Iran are keeping oil prices propped into the recent consolidation range, despite steadily-increasing supply pouring out of US oil production facilities. 

The upcoming US session sees the Baker Hughes US Oil Rig Count at 17:00 GMT. Oil rig counts in the US have been on the rise lately, further applying pressure to oil prices that have so far relied on Middle East tensions to remain elevated.

The US is looking set to pull out of the 'Iran deal' by May 12th, and the spinning out of the pact between Iran and multiple UN allies sees a destabilizing effect on oil production for the Middle East, keeping oil prices on the high side.

WTI levels to watch

As FXStreet's own Ross Burland noted about crude oil's technical outlook, "the charts are bullish, although the hourly RSI is overdone and has turned low before overbought territory, while the 4-hr stick's RSI still has room towards 70 as price seeks out the halfway point on the 68 handle where there is a descending resistance line top from 19th April highs capping the rally. To the downside, 67.61 support meets the 10 and 100-4hr SMA. 66.80 comes in below there as recent lows in the consolidative channel."

May 4, 2018

FX option expiries for May 4 NY cut

FX option expiries for May 4 NY cut at 10:00 Eastern Time, via DTCC, can be found below. - EUR/USD: 1.1900 (EUR 970m), 1.1950 (246m), 1.2000 (1.3bn),
Read more Previous
May 4, 2018

Forex Today: Aussie strongest in Asia on RBA, focus on US dollar ahead of US payrolls

A typical pre-US non-farm payrolls (NFP) caution trading prevailed in the Asian session this Friday, leaving the US dollar broadly subdued. As a resul
Read more Next