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
23 Oct 2019

USD/CAD moves sideways near 1.31, waits for next catalyst

  • Crude oil consolidates Tuesday's rally, WTI trades near $54.
  • US Dollar Index clings to modest daily gains above 97.50.
  • Trading action is likely to remain subdued in the second half of the day.

The USD/CAD pair closed the day virtually unchanged near the 1.31 handle on Wednesday as rising crude oil prices allowed the commodity-related Loonie to stay resilient against the USD. In the absence of significant macroeconomic drivers, the pair is fluctuating in a narrow band near 1.31.

Oil rises on hopes of deeper output cuts

On Tuesday, reports claiming that the Organization of the Petroleum Exporting Countries (OPEC) and its allies were planning to discuss deeper oil output cuts amid the dismal energy demand growth outlook provided a boost to crude oil prices. The barrel of West Texas Intermediate (WTI) added 1.6% on the day and closed at $54.30 to support the CAD. Ahead of the weekly crude oil stock report of the US Energy Information Administration (EIA), the WTI is posting modest daily losses near $54.

On the other hand, the heavy selling pressure surrounding the GBP on Brexit uncertainty allowed the Greenback to find demand. The US Dollar Index snapped its five-day losing streak on Tuesday and extended its gains on Wednesday. As of writing, the index is up 0.12% on the day at 97.62.

Wholesale sales from Canada and the US monthly budget statement will be featured in the economic docket but are unlikely to receive a meaningful market reaction.

Technical levels to watch for

 

Oct 23, 2019

CAD: Delayed political impact? – ING

Francesco Pesole, FX strategist at ING, suggests that they’re not excluding 'delayed' political impact on the loonie if there is some uncertainty in t
Read more Previous
Oct 23, 2019

EUR/JPY meets support near the 10-day SMA at 120.30

The continuation of the selling bias in the single currency is forcing EUR/JPY to give away further gains and approach the 120.30 region, or 4-day low
Read more Next