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
10 Feb 2020

USD/CHF consolidates last week's gains below 0.9800

  • European equity indexes start week on back foot.
  • US Dollar Index stays calm following last week's rally.
  • Coming up: Speech by Fed Governor Michelle Bowman.

Supported by the USD's impressive performance, the USD/CHF pair added more than 100 pips last week and closed at its highest level of 2020 at 0.9782. With the market action staying subdued on Monday, the pair seems to have gone into a consolidation phase and was last seen trading at 0.9775, where it was down 0.04% on the day.

Investors stay on edge at the start of the week amid worries over China having difficulties containing the coronavirus outbreak. Reflecting the risk-off mood, major European equity indexes are down between 0.4% and 0.5%. Additionally, the 10-year US Treasury bond yield is erasing nearly 2%.

DXY stays above 98.60

On the other hand, the US Dollar Index (DXY), which rose 1.4% on the back of upbeat macroeconomic data releases last week, stays relatively quiet to help the pair continue to fluctuate in its tight range. As of writing, the index is down 0.07% on the day at 98.63

The US economic docket won't be featuring any significant data on Monday and markets will be watching Fed Governor Michelle Dowman's speech for clues regarding the Fed's policy outlook. 

Technical levels to watch for

 

Feb 10, 2020

USD/JPY now faces some extra consolidation – UOB

Prospects of further downside appear dissipated and USD/JPY is now likely to trade within a consolidative fashion, in opinion of FX Strategists at UOB
Read more Previous
Feb 10, 2020

New Zealand: RBNZ to retain a conditional easing bias – Westpac

Strategists at Westpac Institutional Bank would be expecting a shift to neutral bias from the Reserve Bank of New Zealand (RBNZ) if coronavirus had no
Read more Next