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
31 Dec 2019

Gold keeps cheering broad USD weakness while heading into the end of 2019

  • Gold remains positive around two months high.
  • Prices have recently benefited from the US dollar declines, increasing odds of the US-China trade deal and the US-Middle East tension.
  • China’s official PMIs can act as immediate catalysts ahead of the US data.

Gold takes the bids to $1,515 amid the initial Asian session on the last day of 2019. While overall declines of the greenback please the buyers, optimism surrounding the major consumer and geopolitical tension adds strength into the safe-haven.

The USD keeps the losses running while declining to the lowest since July 03. The traders’ fraternity seems to adjust the year-end open positions while downbeat prints of the US Dallas Fed Manufacturing Business Index offered additional weakness to the US currency.

Elsewhere, the US-China trade deal is near to its signing in ceremony, as per the South China Morning Post (SCMP) news. The same boosted the market’s risk appetite the previous day while increasing optimism for the major gold consumer, i.e. China. Earlier, the bullion traders buoyed Beijing’s readiness to abide by the phase-one deal terms.

Also contributing to the yellow metal’s upside is the US political tussle with the Middle East as well as North Korea. Iran has openly warned the Trump administration to stay ready to bear the consequences after the US attacked Iraqi and Syrian spots over the weekend. China also registered its disagreement with the US strikes. Further, North Korea prepares for something that is unknown to the world amid the fears of further progress in the hermit kingdom’s building up of its armament.

Markets are gearing up for China’s December month NBS Manufacturing and Non-Manufacturing PMI data. The official activity numbers are likely to retrace a bit after providing a positive surprise during the latest readings. Following the same, the US second-tier housing and consumer sentiment data will be in the spotlight before the investors head to the New Year holiday.

Technical Analysis

A daily closing beyond October month high near $1,520 becomes necessary for the Bulls to hold the reins, failure to do so can recall $1,500 and Wednesday’s low near $1,495 on the chart.

 

Dec 31, 2019

When are China’s official PMI data and how could they affect AUD/USD?

China Federation of Logistic and Purchasing will release December month’s official PMI numbers around 12 pm Sydney/01 am GMT on Tuesday.
Read more Previous
Dec 31, 2019

GBP/USD bulls lapping up US dollar weakness to a 38.2% Fibo target

GBP/USD is trading between a range of 1.3102 and 1.3121 in a correction of the sharp reversal of the start of the month's rally from the low 1.29 hand
Read more Next