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.
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.
Octa trading broker
Open trading account
Back

USD/CHF flat-lined around 0.9700 handle, focus on Trump’s statement on Iran

  • USD/CHF remains confined well within the recent trading range.
  • Improving risk sentiment weighed on the CHF’s safe-haven status.
  • The upside remains capped ahead of Trump’s statement on Iran.

The USD/CHF pair seesawed between tepid gains/minor losses on Wednesday and remained confined in a one-week-old trading range, around the 0.9700 handle.

The pair witnessed some selling during the Asian session and dropped back closer to multi-month lows in reaction to intensifying US-Iran tensions. It is worth recalling that Iran – in retaliation to the US drone strike last week – fired more than a dozen ballistic missiles on US-led forces in Iraq.

Traders preferred to stay on the sidelines

The move raised fears of a wider war in the Middle East and boosted demand for traditional safe-haven currencies, including the Swiss franc. However, a dramatic turnaround in the global risk sentiment helped the pair to reverse the early dip and climb to an intraday high level of 0.9729.

The uptick was further supported by some renewed US dollar buying interest. The bid tone surrounding the greenback remained unabated following the release of stronger-than-expected US ADP report, showing that private-sector employers added 202K jobs in December vs. 160K expected.

Despite the supporting factors, the pair struggled to register any meaningful recovery as market participants seemed reluctant to place any aggressive bets ahead of the US President Donald Trump's statement on Iran's attack, scheduled at 1600 GMT.

Hence, it will be prudent to wait for some strong follow-through buying, possibly beyond last Friday's swing high near the 0.9745-50 region, before positioning for any further near-term appreciating move for the major.

Technical levels to watch

 

AUD/USD registers small daily losses near 0.6860 after upbeat US ADP data

The AUD/USD rose above the 0.6880 mark during the Asian trading hours but struggled to push higher as the greenback started to gather strength in the
Read more Previous

US Pres. Trump to deliver statement on Iran at 1600 GMT

US President Donald Trump is expected to deliver a statement on the conflict with Iran at 1600 GMT, Reuters reported on Wednesday, citing a White Hous
Read more Next