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

EUR/USD pares daily gains, retreats to 1.2030 area amid modest USD recovery

  • EUR/USD lost its traction after climbing to fresh multi-week highs.
  • US Dollar Index posts modest daily gains near 91.20.
  • Wall Street's main indexes suffer heavy losses on Tuesday.

The EUR/USD pair climbed to its highest level since early March at 1.2080 on Tuesday but reversed its direction during the American trading hours. As of writing, the pair was virtually unchanged on a daily basis at 1.2030.

DXY capitalizes on safe-haven flows

Earlier in the day, EUR/USD preserved its bullish momentum as the greenback struggled to find demand. With the market mood souring in the second half of the day, the USD started to attract investors as a safe haven and the US Dollar Index (DXY) turned positive on the day.

Reflecting the risk-off market environment, the S&P 500 and the Dow Jones Industrial Average both lose 0.8%. Meanwhile, the DXY is up 0.15% at 91.22.

There won't be any significant macroeconomic data releases from the euro area on Wednesday and the USD's market valuation is likely to continue to drive EUR/USD's movements ahead of the European Central Bank's (ECB) policy announcements on Thursday.

Previewing the ECB's April policy meeting, “the ECB’s latest announcement – that purchases under the Pandemic Emergency Purchase Programme (PEPP) over the next quarter will be conducted at a significantly higher pace than during the first months of this year – reinforces our view that it will remain highly accommodative for longer," said UOB Group economist Lee Sue Ann.

Technical levels to watch for

 

Fed's Powell: Fed fully committed to both legs of dual mandate

In response to Senator Rick Scott's concerns about rising inflation and the Fed's bond buying program, FOMC Chairman Jerome Powell said that too-low i
Read more Previous

AUD/USD slumps to fresh daily lows near 0.7720 amid flight to safety

After rising above 0.7800 for the first time in a month earlier in the day, the AUD/USD pair reversed its correction during the American trading hours
Read more Next