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/CHF hangs near multi-month lows, below 0.9000 mark

  • Sustained USD selling exerted some fresh downward pressure on USD/CHF on Tuesday.
  • A modest uptick in the US bond yields, a positive risk tone did little to lend any support.

The USD/CHF pair maintained its heavily offered tone through the mid-European session, albeit has managed to recover a few pips from near three-month lows set earlier this Tuesday. The pair was last seen trading around the 0.8980-85 region, still down over 0.55% for the day.

Following the previous day's modest positive move, the pair came under some renewed selling pressure on Tuesday amid the prevalent bearish sentiment surrounding the US dollar. Investors now seem convinced that the Fed will keep interest rates low for a longer period, which, in turn, continued acting as a headwind for the greenback.

Market expectations were further cemented by the Fed Vice Chairman Richard Clarida on Monday, saying that the US economy hasn’t hit the benchmark of substantial further progress needed to begin scaling back asset purchases. Adding to this, Dallas Fed President Robert Kaplan reiterated that he does not expect interest rates to rise until next year.

Dovish Fed expectations largely overshadowed a modest uptick in the US Treasury bond yields, which, so far, have failed to provide any respite to the USD bulls. Even a generally positive tone in the financial markets, which tends to undermine demand for the safe-haven Swiss franc, also did little to lend any support to the USD/CHF pair.

Market participants now look forward to the US economic docket, featuring the release of Building Permits and Housing Starts. The data is unlikely to provide any impetus as the focus remains on the latest FOMC monetary policy meeting minutes, scheduled for release on Wednesday. In the meantime, the USD price dynamics will play a key role in influencing the USD price dynamics and allow traders to grab some short-term opportunities.

Technical levels to watch

 

USD/JPY to turn back higher as 108.55 provides solid support – Credit Suisse

USD/JPY is drifting lower. The pair traded as low as 108.84, bouncing just modestly from this last but still below 109.00. However, economists look fo
Read more Previous

Copper has a 161.8% Fibonacci extension at 10890.80 in its crosshairs – Commerzbank

Copper’s current all-time high was made at 10747.50. According to Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, the metal still has a 16
Read more Next