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/GBP pares gains towards 0.8600 ahead of ECB Economic Bulletin

  • EUR/GBP edges lower to 0.8601 on Thursday.
  • ECB’s de Guindos said the eurozone may have been in recession last quarter and prospects in the near term remain weak.
  • Bank of England (BoE) Governor Bailey highlighted that it’s important to curb inflation towards its 2% target.

The EUR/GBP cross snaps the two-day winning streak during the early European trading hours on Thursday. The cross hovers around the 0.8600 mark after retreating from the weekly high of 0.8620.

The eurozone may have been in recession last quarter, and prospects in the near term remain weak, ECB Vice President Luis de Guindos said on Wednesday. Additionally, ECB’s member Isabel Schnabel said the central bank is on the right track to curb inflation while mentioning geopolitical tensions as one of the upside risks to inflation. ECB policymaker Mario Centeno said that the central bank will cut its key interest rates sooner than it recently thought and should not wait until May to make a decision.

The markets anticipate that the ECB will cut rates this year, with the first move beginning in March or April. That being said, the pricing of aggressive future rate cuts by the ECB compared to the Bank of England's (BoE) should cap the EUR/GBP’s upside.

On the British Pound front, the Bank of England (BoE) Governor Andrew Bailey said on Wednesday that it’s important to curb inflation towards its 2% target and further stated that the UK hasn’t witnessed a rise in unemployment. Bailey claimed that household income has lately increased, which has helped to ease the effect of higher interest rates.

The Industrial Output from Spain and Italy and Economic Bulletin will be due on Thursday. On Friday, traders will monitor UK Manufacturing Production, Industrial Production, and monthly Gross Domestic Product (GBP) for November. ECB Philip Lane is set to speak on Friday. Market players will take cues from the data and find trading opportunities around the EUR/GBP cross.

 

Jan 11, 2024

GBP/USD Price Analysis: The key upside barrier is seen at the 1.2800–1.2805 zone

The GBP/USD pair holds positive ground around 1.2765 during the early European session on Thursday.
Read more Previous
Jan 11, 2024

FX option expiries for Jan 11 NY cut

FX option expiries for Jan 11 NY cut at 10:00 Eastern Time, via DTCC, can be found below.
Read more Next