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
19 Feb 2020

USD/CHF sits near 2-month tops, just below mid-0.9800s

  • USD/CAD was seen consolidating its recent strong gains to two-month tops.
  • A subdued USD price action fails to impress bulls or provide a fresh impetus.

The USD/CHF pair seesawed between tepid gains/minor losses on Wednesday and consolidated its recent gains to two-month tops, set in the previous session.

The pair added to its recent strong gains and gained some follow-through traction on Tuesday amid sustained US dollar buying interest. The already stronger greenback got an additional boost following the release of stronger-than-expected Empire State Manufacturing Index.

The downside remains cushioned

The USD bulls took some breather on Wednesday, shrugging off a modest uptick in the US Treasury bond yields, and turned out to be one of the key factors keeping a lid on any further gains. The downside, however, remained cushioned amid a recovery in the global risk sentiment.

Despite mounting concerns over deepening economic fallout from the coronavirus outbreak in China, the fact that the number of new cases infected by the deadly virus has been declining over the past few days supported investors' appetite for perceived riskier assets.

Against the backdrop of positive factors, the subdued/range-bound price action might still be categorized as a bullish consolidation, especially after the pair's recent strong positive move of around 200 pips since the beginning of this February.

Hence, any meaningful pullback might still attract some dip-buying and help limit any deeper losses. Moving ahead, market participants now look forward to the US economic docket, which coupled with speeches by influential FOMC members might provide some fresh impetus.

Technical levels to watch

 

Feb 19, 2020

PBOC widely expected to slash lending benchmark LPR – Reuters poll

According to a survey of traders and analysts conducted by Reuters on Wednesday, the People’s Bank of China (PBOC), the Chinese central bank, is likel
Read more Previous
Feb 19, 2020

EUR/USD looks firm, regains the 1.0800 handle

After bottoming out in new lows in the 1.0785 region on Tuesday, EUR/USD appears to have finally attracted some attention and is now trading back abov
Read more Next