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
Trading news
Back
24 Jul 2020

CBR Preview: A rate cut of 25 bp seems to be appropriate – Nordea

Today, the Central Bank of Russia (CBR) has its key rate meeting at 10:30. Economists at Nordea expect the CBR to cut the key rate by 25 bp and send a slightly dovish signal. Nevertheless, a rate cut of 50 bp would not be a surprise. 

Key quotes

“We expect the CBR to cut the key rate by 25 bp next Friday and send a slightly dovish signal about the possibility of another rate cut in September. However, we would not be surprised to see a rate cut of 50 bp as well. Finally, it seems that the easing cycle is close to its end in Russia and, thus, the key rate may very well end 2020 at levels of 4-4.25%.”

“We believe corona repercussions will continue to weigh on internal demand in Russia and revise down our forecast on private consumption decline from previous -3.5% y/y to -4.8% y/y for the full year of 2020. As a result, the GDP in Russia will decrease by around 5.0%, according to our estimates. The CBR will probably also lower its own private consumption forecast (currently a drop of 1.6-3.6%) at the upcoming meeting.”

“We expect disinflationary risks to prevail till the end of 2020 amid depressed internal and external demand. As a result, inflation will likely be lower than 4% at the end of this year.”

 

Jul 24, 2020

Eurozone Preliminary Manufacturing PMI expands to 51.1 in July, EUR/USD stays above 1.16

The Eurozone manufacturing sector sees an upturn this month, the latest manufacturing activity survey from IHS/Markit research showed on Friday. more
Read more Previous
Jul 24, 2020

USD/CAD clings modest recovery gains, just below mid-1.3400s

The USD/CAD pair gained some positive traction through the early European session and shot to fresh daily tops, around the 1.3445 region in the last h
Read more Next