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.
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.
Octa trading broker
Open trading account
Back

USD/CAD to target 1.2400 on a break below 1.2470

The USD/CAD came to rest at the 1.2470 support on Friday, a level not visited since February 2018. The bias is lower because technical support is weak and downward momentum strong. Nonetheless, the loonie is vulnerable to a profit-taking rebound, particularly one based on a fundamental factor, interest rates or data, FXStreeet’s Analyst Joseph Trevisani reports. 

Key quotes

“The supposed advantage to the Canadian economy from commodity prices has yet to be established in the data and cannot be until second quarter information is issued. In the interim, the trend remains, slowing but intact.”

“First support at 1.2400 is the initial goal but the steep 1.5% drop this week makes the USD/CAD vulnerable to the profit-taking rebounds that have characterized its entire pandemic decline.”

“The first resistance at 1.2515 is weak, 1.2600 is strong.”

“The US Federal Reserve meeting on March 16 and 17 is the main event in the coming week. The slightest hint from Chairman Jerome Powell of tempering in the bond purchase program will send US rates and probably the USD/CAD higher.”

“There will be no policy developments but the first Projection Materials for the year are due. Any improvement in the GDP and unemployment estimates, which is likely, will confirm the positive US economic outlook. Likewise, US Retail Sales on Tuesday and Canadian on Friday will be important notices for their consumer sectors.”

 

EUR/JPY to hold the 130.33/36 zone – Commerzbank

EUR/JPY is probing major resistance at the 103.33-36 neighborhood, which is expected to be held, according to Karen Jones, Team Head FICC Technical An
Read more Previous

GBP/USD to hold the 1.3850 uptrend – Commerzbank

The GBP/USD pair sunk to take another look at the 1.3850 uptrend after weak data on Friday. If the cable holds the uptrend, a retest of the last week
Read more Next