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
27 Jul 2021

NZD/USD refreshes session lows amid risk-off mood

  • NZD/USD witnessed some heavy selling on Tuesday amid resurgent USD demand.
  • COVID-19 woes weighed on investors’ sentiment and benefitted the safe-haven USD.
  • Tumbling US bond yields might act as a headwind for the buck and help limit losses.

The NZD/USD pair added to its intraday losses and dropped to fresh daily lows, around the 0.6945 region during the early European session.

Following a brief consolidation through the first half of the trading action on Tuesday, the NZD/USD pair witnessed some heavy selling and erased its modest gains recorded over the past two sessions. The intraday slide was exclusively sponsored by a sudden pickup in the US dollar demand amid a fresh bout of the risk-aversion trade.

Investors remain worried that the spread of the highly contagious Delta variant of the coronavirus could derail the global economic recovery. This, in turn, took its toll on the global risk sentiment, which was evident from a sharp fall in the equity markets and provided a goodish lift to the traditional safe-haven greenback.

Meanwhile, the risk-off impulse in the markets triggered a fresh leg down in the US Treasury bond yields. This might act as a headwind for the USD and hold traders from placing any aggressive bearish bets around the NZD/USD pair. Hence, it will be prudent to wait for some follow-through selling before positioning for any further decline.

Market participants now look forward to the US economic docket, highlighting the releases of Durable Goods Orders and the Conference Board's Consumer Confidence Index. This, along with the broader market risk sentiment, will influence the USD price dynamics and provide some short-term trading impetus to the perceived riskier kiwi.

Technical levels to watch

 

Jul 27, 2021

EUR/JPY Price Analysis: Decent contention aligns near 128.50

After a failed attempt to break above the 130.30 area, EUR/JPY comes under selling pressure and slips back below the 130.00 mark on turnaround Tuesday
Read more Previous
Jul 27, 2021

US Dollar Index Price Analysis: Interim hurdle emerges at 93.20

DXY rebounds from earlier lows in the vicinity of 92.50 on turnaround Tuesday. Further rangebound around current levels is likely ahead of the key FOM
Read more Next