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
4 Aug 2020

AUD/USD loses its traction, turns flat near 0.7120

  • AUD/USD turned south after advancing to 0.7150 area.
  • RBA left its policy rate unchanged at 0.25% as expected.
  • Eyes on Factory Orders and ISM-NY Business Conditions Index data from the US.

The AUD/USD pair closed the second straight day in the negative territory on Monday but staged a rebound toward 0.7150 during the Asian session. Nevertheless, the pair failed to preserve its momentum and erased its gains to turn flat on the day near 0.7120.

RBA offers nothing new with respect to policy outlook

Following its July monetary policy meeting, the Reserve Bank of Australia (RBA) decided to keep its policy rate unchanged at 0.25% as expected. In its policy statement, the RBA reiterated that it will maintain its accommodative approach as long as it's required. "The Australian economy is going through a very difficult period; experiencing its biggest contraction since the 1930s," the RBA added. The fact that the bank didn't voice any concerns regarding the AUD strength helped AUD/USD push higher.

On the other hand, the renewed USD strength is weighing on AUD/USD during the early trading hours of the American session. Although the 10-year US Treasury bond yield is staying deep in the red on Tuesday, the US Dollar Index (DXY) continues to edge higher toward 94.00. Ahead of the Factory Orders and the ISM-NY's Business Conditions Index data, the DXY is up 0.33% on the day at 93.82.

On Wednesday, AiG Performance of Construction Index, Commonwealth Bank Services PMI and Home Loans data from Australia will be looked upon for fresh impetus.

Technical levels to watch for

 

Aug 4, 2020

Silver Price Analysis: XAG/USD clears resistance, looks only soft hurdles ahead – Confluence Detector

The prices of silver has been on the rise, as fears of a worsening economic crisis in the US implies more fiscal and monetary support. In turn, these
Read more Previous
Aug 4, 2020

Canada Markit Manufacturing PMI above expectations (44.1) in July: Actual (52.9)

Canada Markit Manufacturing PMI above expectations (44.1) in July: Actual (52.9)
Read more Next