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
11 Jan 2024

EUR/USD gains ground below the 1.1000 mark, focus on US CPI data

  • EUR/USD attracts some buyers amid the USD softness.
  • ECB’s de Cos said risks to economic growth remain skewed to the downside.
  • The markets anticipate the Fed to begin cutting rates as early as March, but the Fed’s Williams pushed back against the expectation.
  • The US Consumer Price Index (CPI) for December will be a closely watched event on Thursday.

The EUR/USD pair edges higher for the second consecutive day during the early Asian trading hours on Thursday. The rebound of the major pair is bolstered by the softer US Dollar (USD) broadly. Traders await the release of the US Consumer Price Index (CPI) for fresh impetus on Thursday, which is estimated to show an increase of 0.2% MoM and 0.3% YoY in December. At press time, EUR/USD is trading at 1.0977, up 0.11% on the day.

Late Wednesday, the European Central Bank (ECB) Governing Council member Pablo Hernandez de Cos said that the euro area probably failed to grow in the final three months of 2023 and the central bank will pay attention in the coming months to different developments that may condition the trajectory of inflation and its monetary policy action

ECB Vice President Luis de Guindos stated that the Eurozone's economy may have entered a recession last quarter, and its prospects are gloomy. He also supports the current level of interest rates. Meanwhile, the ECB’s member, Isabel Schnabel emphasized that the central bank is on the right track to curb inflation. She also mentioned geopolitical tensions as one of the upside risks to inflation.

Across the pond, the financial markets anticipate the Federal Reserve (Fed) to begin cutting rates as early as March, but New York Fed President John Williams and other officials have been pushing back against the idea. Williams said that interest rates in the US will likely need to stay high “for some time” until the central bank is confident that inflation is returning to 2%.

The Industrial Output from Spain and Italy, and the Economic Bulletin will be due on Thursday. Nonetheless, the December US CPI report in the American session will be the highlight. Traders will take cues from this data and find trading opportunities around the EUR/USD pair.

 

Jan 11, 2024

South Korea BoK Interest Rate Decision in line with forecasts (3.5%)

South Korea BoK Interest Rate Decision in line with forecasts (3.5%)
Read more Previous
Jan 11, 2024

PBoC sets USD/CNY reference rate at 7.1087 vs. 7.1055 previous

On Thursday, the People’s Bank of China (PBoC) sets the USD/CNY central rate for the trading session ahead at 7.1087 as compared to the previous day's fix of 7.1055 and 7.1667 Reuters estimates.
Read more Next