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
28 Jul 2020

NZD/USD flirts with 0.6700, in search of more clues

  • NZD/USD again bounces off 0.6666 to aim for 0.7000 for the fourth time.
  • New Zealand Total Filled Jobs for June rose 2,053 to 2.2 million.
  • Antipodeans cheer US dollar weakness amid a light calendar.
  • Virus updates, stimulus news will be in the spotlight.

NZD/USD picks up the bids around 0.6685-90 during the early Asian session on Tuesday. The kiwi pair marked the highest closing since the early-January 2020 regardless of its inability to refresh the yearly high of 0.6741, need to mention about the inability to cross 0.6700 threshold.

Bulls pay a little heed to upbeat jobs data…

New Zealand’s Total Filled Jobs for June extended the previous month’s recovery move while adding 2,053 figures to the previous month’s 2,194,286 number for May. Though, NZD/USD shrugs off the positive catalysts while marking another failure to cross 0.6700 level with an intraday high of 0.6692.

The reason could be traced from the market’s failure to extend the previous risk-on mood amid a lack of major catalysts. Also warning the bulls are the recent comments from the US health official Anthony Fauci suggesting cautious optimism for Moderna coronavirus (COVID-19) vaccine. Furthermore, North Korean leader Kim Jong-Un’s clear favor for nuclear arsenal adds to fears of a fresh US-North Korea tussle.

The kiwi buyers kick-started the week on a positive side as the US dollar refreshed two-year low and commodities managed to keep the bulls happy for one more day. In doing so, the quote showed a little case for increases in global virus cases.

A lack of agreement over the much-awaited fiscal package and sustained increase in the pandemic numbers from the US could be cited as the major reasons behind the greenback’s weakness. Additionally, mixed data and fears of negative rates and sharp economic contraction also weigh on the US currency.

Amid all these catalysts, Wall Street benchmarks and the US 10-year Treasury yields managed to post mild gains on Monday whereas S&P 500 Futures print 0.10% profits to 3,235 as we write.

Looking forward, traders will have to follow virus updates and news relating to the US fiscal package for near-term direction.

Technical analysis

Higher high formation joins the pair’s ability to stay beyond 0.6600, July 09 high, to keep the bulls hopeful of a break above 0.6700. The same will escalate the pair’s north-run towards the December 2019 peak of 0.6756. Meanwhile, a downside break under 0.6600 will have June month’s top near 0.6585 and 21-day SMA level of 0.6573 as validation points for further declines.

 

Jul 28, 2020

Silver bulls showing their hand in early Asia on USD weakness

The price of silver shot higher in late North America and extended the gains when the market opened again in early Asian trade. Silver is currently 1.
Read more Previous
Jul 28, 2020

AUD/NZD Price Analysis: 50-day EMA, resistance-turned-support line limit immediate downside

AUD/NZD flirts with 1.0700 during the pre-Tokyo open Asian trading on Tuesday. In doing so, the pair respects 50-day EMA and a downward sloping trend
Read more Next