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 advances beyond 1.2450 on unabated USD strength

  • USD/CAD extends rally to fresh multi-month highs on Friday.
  • US Dollar Index continues to push higher after breaking above 92.00.
  • CAD struggles to capitalize on recovering crude oil prices. 

The USD/CAD pair broke above 1.2400 on Friday and reached its strongest level since April 26 at 1.2453. As of writing, the pair was up 0.7% on the day at 1.2445. On a weekly basis, the pair is up nearly 300 pips and remains on track to post its largest weekly gain of the eyar. 

Bullard comments boost USD

The unabated USD strength remains the main market theme ahead of the weekend. In the absence of significant fundamental drivers and high-tier macroeconomic data releases, the US Dollar Index preserved its bullish momentum on Friday. Additionally, the sharp drop witnessed in Wall Street's main indexes allowed the USD to gather additional strength. Currently, the DXY is at its strongest level in more than two months at 92.35, rising 0.5% on a daily basis.

Earlier in the day, St. Louis Fed President James Bullard told CNBC that the Fed's June meeting represented a "somewhat hawkish" move. Bullard further noted that inflation was more intense than expected and said FOMC Chairman Jerome Powell officially opened taper discussions at the last meeting.

Meanwhile, the barrel of West Texas Intermediate (WTI) is up more than 1% at $71.85 on Friday but rising crude oil prices don't seem to be helping the loonie limit its losses ahead of the weekend.

Technical levels to watch for

 

AUD/USD hits fresh six months lows under 0.7500

The AUD/USD dropped further during the American session, breaking under 0.7500 as the rally of the US dollar goes on. The pair bottomed at 0.7483, rea
Read more Previous

US: NY Fed's GDP Nowcast declines to 3.7% for Q2 after this week's data

The US economy is expected to grow by 3.7% and 4.4% in the second and the third quarter of 2021, respectively, the Federal Reserve Bank of New York's
Read more Next