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
10 Mar 2020

US Dollar Index looks firmer, approaches 96.00

  • DXY rebounds from recent lows and trades near 96.00.
  • Mood improves in the risk complex following Tuesday’s sell-off.
  • US NFIB index, API’s report will be the only releases later in the NA session.

The US Dollar Index (DXY), which gauges the buck vs. a bundle of its main competitors, is trading on a better footing and approaching the key 96.00 barrier.

US Dollar Index regains traction on Trump, yields

Following three consecutive daily pullbacks, the index has managed to recover the smile on Tuesday and is now trading at shouting distance from the 96.00 mark after bottoming out in levels last seen in September 2018 near 94.60 on Monday.

The greenback reacted positively after President Trump said on Monday he is considering tax cuts among other economic measures in order to mitigate the impact of the coronavirus on the US economy. President Trump is expected to give a press conference later on Tuesday.

The dollar is also deriving support from the bounce in US yields after the recent drop to historic lows. In fact, yields of the US 10-year note plummeted to the 0.30% area for the first time ever and is now hovering over the 0.70% region.

It will be a very calm session in the US docket, as the NFIB index is only scheduled for later on Tuesday along with the usual report on US crude oil supplies by the American Petroleum Institute (API).

What to look for around USD

Despite the ongoing bounce off multi-month lows near 94.60, the outlook on the index remains on the bearish side for the time being. In the meantime, the dollar remains under heavy pressure in response to rising bets on another Fed move on rates at the March meeting, declining yields and heightened concerns on the impact of the coronavirus on the economy. Attention has now shifted to the speech by President Trump later today, where he is expected to announce measures to combat the effects of the COVID-19 on the US economy.

US Dollar Index relevant levels

At the moment, the index is gaining 0.80% at 95.82 and a break above 96.03 (50% Fibo of the 2017-2018 drop) would open the door to 96.16 (200-week SMA) and finally 96.36 (monthly low Dec.31 2019). On the flip side, immediate contention aligns at 94.65 (2020 low Mar.9) seconded by 94.20 (38.2% Fibo of the 2017-2018 drop) and then 93.81 (monthly low Sep.23 2018).

Mar 10, 2020

Asian stocks follow US equity futures, treasury yields to mark recovery

In addition to US President Donald Trump’s ‘major’ economic steps in response to coronavirus (COVID-19), China’s opening of the Wuhan travel border an
Read more Previous
Mar 10, 2020

RBNZ Orr: New Zealand has capacity to respond to coronavirus impact

Additional comments are crossing the wires from the Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr, as he continues to speak about their readi
Read more Next