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
22 Jan 2020

USD/JPY extends sideways grind near 110

  • 10-year US Treasury bond yield stays flat on Wednesday.
  • Chicago Fed's National Activity Index points out to slowdown in economic growth.
  • US Dollar Index drops below 97.50 mark in early American session.

The USD/JPY pair is having a difficult time finding direction on Wednesday as investors are waiting for the next significant catalyst. As of writing, the pair was up 0.08% on the day at 109.95.

USD weakens slightly on Wednesday

Earlier in the day, US President Donald Trump said that they will have to impose a 25% tariff on European car imports if they were to fail to reach a trade deal with the European Union. Although these comments weighed on European stock markets, the JPY struggled to find demand as a safe-haven. 

Regarding the Federal Reserve's monetary policy, Trump argued that the US GDP would expand by 4% if it weren't for the FOMC's interest rate decisions. Meanwhile, the data published by the Federal Reserve Bank of Chicago showed that the economic growth in December lost momentum with the National Activity Index slumping to -0.35 from 0.41 in November.

Although the US Dollar Index, which spent a large portion of the day moving sideways above the 97.50, edged lower and was last down 0.15% on the day at 97.45, it failed to help the pair break out of its tight daily channel. In the meantime, the 10-year US Treasury bond yield is staying flat on the day to allow the pair to stay confined in its range. 

In the early trading hours of the Asian session on Thursday, Trade Balance, All Industry Activity Index and Coincident Index from Japan will be looked upon for fresh impetus. On Friday, the Bank of Japan will be publishing the minutes of its January monetary policy meeting.

Technical levels to watch for

 

Jan 22, 2020

USD/CAD offered near 1.3050 post-CPI and ahead of BoC

The Canadian dollar is trading on a volatile note vs. its American counterpart on Wednesday, with USD/CAD now hovering around the 1.3050 region in the
Read more Previous
Jan 22, 2020

Canada: December CPI slips under the radar ahead of January BoC – TD Securities

"CPI inflation was unchanged at 2.2% y/y in December, in-line with TD's forecast and slightly below the market consensus," noted TD Securities analyst
Read more Next