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
2 Mar 2020

EUR/GBP climbs to 4-1/2 month tops, eyeing 0.8700 mark

  • EUR/GBP reverses an early dip and turns higher for the fourth consecutive session on Monday.
  • News of fiscal easing measures from Germany provided a goodish lift to the common currency.
  • Fears of a no-deal Brexit, BoE’s readiness to act weighed on the pound and remained supportive.

The EUR/GBP cross jumped to 4-1/2 month tops during the early European session on Monday, with bulls now eyeing a move towards reclaiming the 0.8700 round-figure mark.

A combination of factors assisted the cross to reverse an early dip to sub-0.8600 levels and build on its recent strong positive momentum for the fourth consecutive session on the first day of a new week.

EUR/GBP boosted by a combination of factors

The buying interest around the shared currency picked up some additional pace in the last hour following the news that Germany is mulling a way to loosen its rigid limits on spending and stimulate the economy.

On the other hand, the British pound remained on the defensive amid persistent uncertainty about the future UK-EU trade relationship and concerns that Britain might crash out of the EU later this year.

This coupled with the latest announcement by the Bank of England, saying that it is ready to step in and will "take all needed steps to protect stability" exerted some additional pressure on the sterling.

With Monday's positive move, the cross has rallied over 400 pips from sub-0.8300 levels touched on February 18 and now seems poised to continue with its bullish trajectory ahead of the final Eurozone/UK PMI prints.

Technical levels to watch

 

Mar 2, 2020

France Markit Manufacturing PMI above expectations (49.7) in February: Actual (49.8)

France Markit Manufacturing PMI above expectations (49.7) in February: Actual (49.8)
Read more Previous
Mar 2, 2020

Austria Unemployment Rate fell from previous 8.7% to 8.1% in February

Austria Unemployment Rate fell from previous 8.7% to 8.1% in February
Read more Next