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
28 Jan 2020

AUD/USD consolidates daily losses near 0.6750 ahead of key CPI data

  • NAB data shows Business Confidence continues to deteriorate in Australia.
  • US Dollar Index advances above 98 on Tuesday.
  • Coming up: Consumer Price Index (CPI) data from Australia.

The AUD/USD pair edged lower on Tuesday and touched its weakest level since mid-October at 0.6737 before staging a technical rebound in the second half of the day. As of writing, the pair was consolidating its daily losses near 0.6750, erasing 0.15% on a daily basis.

Eyes on RBA's inflation report

Earlier in the day, the National Australia Bank's monthly survey revealed that the Business Confidence Index in December dropped to -2 from 0 in November and the Business Conditions Index eased to 3 from 4 in the same period to hurt the AUD. Moreover, concerns over the coronavirus having a significant negative impact on the Chinese economy put additional weight on China-proxy AUD's shoulders. 

In the early trading hours of the Asian session on Wednesday, the Australian Burau of Statistics will release its Consumer Price Index data for the fourth quarter. More importantly, the Reserve Bank of Australia (RBA) will publish its quarterly inflation report as well

Markets expect the RBA's Trimmed Mean CPI to come in at 1.5% on a yearly basis and a lower-than-expected reading could hurt the AUD as it would suggest that the RBA could remain dovish without worrying about inflation shooting over their target range.

On the other hand, the greenback continued to find demand as a safer-alternative against most major currencies and the US Dollar Index looks to close the day above the 98 handle for the first time since early December. The data from the US showed that Durable Goods Orders rose 2.4% in December following November 3.1% drop but Core Durable Goods Orders, non-defense capital goods excluding aircraft, declined 0.9%.

Technical levels to watch for

 

Jan 28, 2020

United States 7-Year Note Auction down to 1.57% from previous 1.835%

United States 7-Year Note Auction down to 1.57% from previous 1.835%
Read more Previous
Jan 28, 2020

US: Higher Consumer Confidence on trade war de-escalation – Wells Fargo

Increased optimism about current and expected conditions supported a better than expected print for the consumer confidence index in January, noted an
Read more Next