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
24 Jul 2020

USD/JPY steadies below 106.00 after slumping to multi-month lows

  • USD/JPY dropped to its lowest level since March on Friday.
  • Risk-averse market environment continues to provide a boost to safe-haven JPY.
  • US Dollar Index looks to post its lowest weekly close in nearly two years. 

The USD/JPY pair fluctuated around 107.00 during the first half of the day but came under strong bearish pressure with the souring market sentiment helping the JPY gather strength as a safe haven.

After breaking below 106.00 in the early American session, the pair extended its slide and touched its lowest level since mid-March at 105.76. With the trading action turning subdues at the end of the European session, the pair seems to have gone into a consolidation phase and was last seen losing 1% on the day at 105.80.

DXY extends slide, stocks remain under pressure

Escalating US-China geopolitical tensions following China's decision to retaliate to the closure of its Houston consulate by shutting down the US consulate in Chengdu caused risk-off flows to dominate financial markets on Friday.

Reflecting the dismal mood, Wall Street's main indexes started the day deep in the negative territory and further weighed on USD/JPY in the early American session.

Moreover, the greenback remained on the back foot with the US Dollar Index (DXY) slumping to its lowest level since September of 2018 at 94.41 and didn't allow the pair to recover its losses. At the moment, the DXY is down 0.36% on the day at 94.44 and the S&P 500 Index is losing 0.6% at 3,217.

Earlier in the day, the data published by the US Census Bureau showed that New Home Sales rose by 13.8% in June but was largely ignored by the market participants. Additionally, the IHS Markit's preliminary Manufacturing and Services PMI for July showed an improvement from June but fell short of market expectation.

Technical levels to watch for

 

Jul 24, 2020

EUR/USD rises further on USD weakness, hits fresh highs above 1.1630

The EUR/USD pair broke to the upside after moving during hours in a range between 1.1625 and 1.1585 and hit 1.1637, the highest since late 2018. The g
Read more Previous
Jul 24, 2020

US: Strength in home sales likely has considerable room to run – Wells Fargo

Data released on Friday showed New Homes Sales jumped 13.8% to a 776K (annual). Analysts at Wells Fargo, look for new home sales to trend higher this
Read more Next