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
24 Jan 2020

US Dollar Index retreats from 2020 highs, back near 97.70

  • DXY gives away some gains and return to the 97.70 region.
  • The dollar clinched YTD highs around 97.80 on Thursday.
  • Flash Manufacturing/Services PMIs next of relevance.

The greenback is clinging to its daily gains around 97.70 at the end of the week, shedding some gains after recent yearly tops near 97.80 when measured by the US Dollar Index (DXY).

US Dollar Index focused on virus, data

The index has reversed the anaemic session on Thursday and managed to print new 2020 highs near 97.80 following a moderate sell-off in the euro, particularly in the wake of the ECB meeting and President Lagarde’s press conference.

In the meantime, markets’ mood remains tilted to the risk-off trading in response to developments from the Wuhan coronavirus, which has now spread to other Chinese cities (including Beijing) and the first case of the virus has been reported in Singapore.

Later in the US data space, Markit will publish its advanced manufacturing and services gauges for the month of December in what will be the sole releases on Friday.

What to look for around USD

DXY briefly tested the area above the 200-day SMA on Thursday, reaching at the same time new 2020 peaks following the downside pressure in EUR post-ECB meeting. In the meantime, headlines from the Chinese coronavirus and uncertainty regarding the US-China ‘Phase 2’ deal keep driving the sentiment in the global markets and favour the ongoing preference for safer assets. Further out and ahead of the FOMC meeting next week, the dollar remains underpinned by the current ‘pause-mode’ from the Fed vs. the broad-based dovish view from its G10 peers, the dollar’s safe haven appeal and its status of ‘global reserve currency’.

US Dollar Index relevant levels

At the moment, the index is gaining 0.04% at 97.72 and a breakout of 97.80 (2020 high Jan.23) would open the door to 97.87 (61.8% Fibo of the 2017-2018 drop) and the 98.54 (monthly high Nov.29 2019). On the other hand, the next support lines up at 97.20 (21-day SMA) followed by 97.09 (weekly low Jan.16) and then 96.36 (monthly low Dec.31).

Jan 24, 2020

S&P warns coronavirus threatens to dent China’s new growth driver – Bloomberg

S&P Global Ratings recently crossed wires, via Bloomberg, while warning that Chinese consumption, a key growth driver in an economy transitioning from
Read more Previous
Jan 24, 2020

Philippines: GDP slowed its pace in 2019 – UOB

UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting reviewed the recently published GDP figures in the Philippines. Key Quotes “The Ph
Read more Next