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
Test
Trading news
Back
7 Feb 2019

EUR/USD: Hits two-week low, downside exposed as markets push back ECB rate hike bets to end 2020

  • EUR/USD is being pressured by weak economic data, growing evidence of a slowdown in the core (Germany). 
  • The common currency hit two-week lows in Asia and could remain under pressure in Europe on fading prospects of an ECB rate hike in next 12 months. 

The EUR/USD pair hit two-week lows in Asia and could slide further towards the support at 1.1330-1.13 on fading prospects of ECB rate hike. 

The Euribor market now suggests the ECB's first full 25 basis point hike won't occur until the end of 2020, according to Reuters. Further, the deposit rate, currently at minus 0.4 percent, is not seen rising above zero until mid-2021. It is worth noting that a month ago, the futures market was pricing a rate rise in the third quarter of 2020. 

Markets have pushed back rate hike bets in response to growing evidence of an economic slowdown in core Eurozone economies. On Wednesday, German - the Eurozone's biggest economy and export powerhouse - reported the biggest drop in factory orders since 2012, triggering fears of recession. 

Earlier this week, German Ifo Institute reported its economic climate index for Eurozine at -11.1; the first negative reading since 2014. 

Put simply, the economic divergence between the US and Eurozone is widening in favor of the US dollar. Hence, the EUR could remain under pressure in the near-term. 

The downside could gather steam if the German industrial production for December misses estimates by a big margin, bolstering recession fears. The data is scheduled for release at 07:00 GMT. 

EUR/USD pivot points

 

Feb 7, 2019

GBP/USD: Traders await BoE announcements on “Super Thursday”

The British Pound trades little changed around 1.2930 against the USD on early Thursday. Global investors await the Bank of England (BoE) monetary pol
Read more Previous
Feb 7, 2019

NZ: Unemployment rate rose to 4.3% in the December quarter - Westpac

Michael Gordon, senior economist at Westpac, notes that the New Zealand’s unemployment rate rose to 4.3% in the December quarter, following an upwardl
Read more Next