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 displays a rebound at around 1.2800 ahead of US ISM data

  • USD/CAD has witnessed a modest rebound as inverts expect higher US ISM New Orders index data.
  • The Canadian economy has remained flat on the GDP front.
  • Oil prices are expecting more downside n accelerating recession risks.

The USD/CAD pair is getting bids around the psychological support of 1.2800 in the early Tokyo session. The asset defended the monthly support of 1.2788 on Friday and is displaying downside exhaustion signals near the critical support area. The pair has advanced to near 1.2820 in early Tokyo and more upside looks possible if the asset oversteps the critical hurdle of 1.2855.

The asset is attempting to regain its glory on higher expectations of US Institute of Supply Management (ISM) New Orders Index data, which is seen decently higher at 52 than the prior release of 49.2. A higher New Orders data indicates that the demand from consumers is robust in times of higher price pressures. Consumers have not dropped their spending, which has been upholding the recession risks ahead.

However, the critical ISM Manufacturing PMI data is expecting an underperformance as estimates dictate landing at 52 vs. the prior print of 53. A drop in the economic data may accelerate a downside move in the US dollar index (DXY).

On the loonie front, the Canadian economy reported on Friday that the economy has remained flat on the Gross Domestic Product (GDP) front. The Canadian GDP has landed at 0%, lower than the expansion of 0.3% reported last month but higher than the expectation of -0.2%.

Talking about oil, the oil prices are likely to extend their losses if the asset drops below the crucial support of $97.60. The black gold has remained in the grip of bears as recession fears are advancing sharply. Soaring price pressures in the world economy have triggered the requirement of more rate hikes ahead, which have trimmed optimism over oil prices.

 

AUD/USD retreats towards 0.6950 on China PMIs, geopolitics with eyes on RBA, US NFP

AUD/USD bulls take a breather after a two-week upside, recently easing to 0.6975 during Monday’s initial Asian session, amid mixed clues. Among them,
Read more Previous

Australia S&P Global Manufacturing PMI meets forecasts (55.7) in August

Australia S&P Global Manufacturing PMI meets forecasts (55.7) in August
Read more Next