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/JPY extends slide to 109.70 amid risk aversion

  • Sharp increase in new coronavirus infections triggered flight-to-safety.
  • 10-year US Treasury bond yield erases more than 3% on Thursday.
  • US Dollar Index stays calm below 99 ahead of inflation data.

The USD/JPY pair failed to close the day above the critical 110 handle on Wednesday and came under renewed bearish pressure amid resurfacing concerns over the coronavirus outbreak. With risk-off flows helping the JPY find demand as a safe-haven, the pair slumped to a daily low of 109.61. As of writing, the pair was down 0.35% on the day at 109.70.

Coronavirus headlines weigh on sentiment

China has announced that the number of confirmed coronavirus infections rose more than 14K on Wednesday to bring the total number above 60,000. Although this huge jump in cases was reportedly caused by a change in the counting method, the market sentiment turned sour as investors realized that the severity of the outbreak was worse than initially anticipated.

"We understand that new case definition includes clinically diagnosed cases based on symptoms and exposure, as well as lab-confirmed cases," a spokesperson for the World Health Organization (WHO) explained on Thursday but failed to improve the sentiment.

Reflecting the risk-off atmosphere, the 10-year US Treasury bond yield is down 3.7% on the day and major European equity indexes are erasing more than 1%.

In the second half of the day, the US economic docket will feature the Consumer Price Index (CPI) and weekly Jobless Claims data. Markets are likely to keep a close eye on Wall Street's performance.

Technical levels to watch for

 

EUR/JPY Price Analysis: Remains on the defensive near 119.25

EUR/JPY is prolonging the leg lower after breaking below the 120.00 mark earlier in the session. If sellers keep controlling the markets’ sentiment th
Read more Previous

US Dollar Index Price Analysis: The 2019 high at 99.67 emerges on the horizon

Despite Thursday’s lack of direction, DXY looks firm near YTD highs in the 99.00 neighbourhood. Immediately to the upside emerges 99.37 (high Septembe
Read more Next