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

AUD/USD recovers modestly, trades near 0.6600

  • AUD/USD opened with a bearish gap on Monday.
  • US Dollar Index retraces large portion of Friday's drop.
  • Chicago Fed National Activity Index and Dallas Fed Manufacturing Index coming up.

Despite a modest rebound on Friday, the AUD/USD pair registered its lowest close since February 2009 at 0.6628. With coronavirus headlines triggering fresh risk-off flows at the start of the week, the pair opened with a bearish gap and stretched lower to 0.6583 before going into a consolidation phase. As of writing, the pair was trading at 0.6603, erasing 0.37% on a daily basis.

Risk aversion weighs on AUD

The sharp upsurge seen in the number of confirmed coronavirus infections in Italy and South Korea over the weekend reminded investors of the potential negative impact of the epidemic on the global economy.

While speaking at the G20 summit on Saturday, International Monetary Fund (IMF) Managing Director Kristalina Georgieva noted that the epidemic was expected to lower the global growth by 0.1% in 2020.

On the other hand, the sour market mood allows the USD to find demand on Monday to make it difficult for the pair to stage a meaningful recovery.

Ahead of the Chicago Fed National Activity Index and the Dallas Fed Manufacturing Index data, the US Dollar Index is up 0.25% on the day at 99.60. There won't be any macroeconomic data releases from Australia on Tuesday and investors are likely to remain focused on coronavirus headlines.

Technical levels to watch for

 

GBP/JPY Price Analysis: Trying to defend 200-hour SMA/61.8% Fibo. confluence support

The GBP/JPY cross extended its sharp intraday pullback from levels just above mid-144.00s and dropped to fresh session lows in the last hour, albeit m
Read more Previous

USD/CAD eases from 2-week tops, struggles to find acceptance above 1.3300 mark

The USD/CAD pair jumped to two-week tops, levels beyond the 1.3300 mark in the last hour, albeit quickly retreated few pips thereafter. Having shown s
Read more Next