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

GBP/USD jumps back above 1.30 mark, fresh session tops post-UK CPI

  • GBP/USD reverses an early dip and gains traction on hotter-than-expected UK CPI.
  • Fears of a no-deal Brexit might keep a lid on any runaway rally, at least for now.

The GBP/USD pair reversed an early European session dip to the 1.2975 region and seemed headed back towards the top end of its daily trading range post-UK macro data.

Following the previous session's good two-way moves and a range-bound price action through the Asian session on Wednesday, the pair found some support from a subdued US dollar demand. The intraday uptick lacked any strong follow-through and fizzled out rather quickly near 100-hour SMA.

The pair subsequently dropped back closer to the overnight swing low but once again managed to attract some dip-buying following the release of the latest UK consumer inflation figures. According to the report, the headline CPI jumped to 1.8% YoY rate in January as compared to 1.3% previous and 1.6% expected.

Adding to this, the core CPI, Producer Price Index (PPI) also came in stronger than consensus estimates and provided a goodish lift to the British pound. The pair rallied over 30 pips in reaction to the upbeat data, albeit the upside is likely to remain capped amid persistent fears of a no-deal Brexit.

Technical levels to watch

 

Feb 19, 2020

United Kingdom Producer Price Index - Input (MoM) n.s.a came in at 0.9%, above expectations (-0.4%) in January

United Kingdom Producer Price Index - Input (MoM) n.s.a came in at 0.9%, above expectations (-0.4%) in January
Read more Previous
Feb 19, 2020

European Monetary Union Construction Output s.a (MoM) dipped from previous 0.73% to -3.1% in December

European Monetary Union Construction Output s.a (MoM) dipped from previous 0.73% to -3.1% in December
Read more Next