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
18 Jan 2024

AUD/USD remains under selling pressure around 0.6550, eyes on Australian employment data

  • AUD/USD extends its downside around 0.6550 on the firmer USD. 
  • US Retail Sales came in at 0.6% MoM in December vs. 0.3% prior, beating expectations.
  • The Reserve Bank of Australia (RBA) maintains its cautious stance and forecasts only two rate cuts this year. 
  • The Australian Unemployment Rate and Employment Change for December will be the highlights on Thursday. 

The AUD/USD pair remains under selling pressure during the early Asian section on Thursday. The downtick of the pair is driven by the discouraging Chinese data and the stronger US Dollar (USD) broadly. AUD/USD bounces off the fresh six-week lows near 0.6520 and currently trades around 0.6552, gaining 0.04% on the day. 

Data from the Commerce Department reported on Wednesday that US Retail Sales rose 0.6% MoM in December from 0.3% in November, better than the estimation of 0.4%. Meanwhile, the Retail Sales Control Group grew 0.8% MoM in December from 0.5% in the previous reading, stronger than expected. 

The Greenback gains traction for the fourth consecutive day as the Federal Reserve's (Fed) rate cut expectations ease. The US central bank seems not yet sure that inflation will reach 2% and Fed Governor Christopher Waller said on Tuesday that any rate cuts this year should be done "methodically and carefully.”

On the Aussie front, the current cash rate sits at 4.34% after a hike of 25 basis points (bps) at the Reserve Bank of Australia (RBA) November meeting. The RBA maintains its cautious stance and forecasts only two rate cuts this year, whereas the US financial markets have priced in six rate cuts by the end of the year. Investors await the Australian labor data on Thursday for fresh impetus. The Unemployment Rate is estimated to remain at 3.9% for December. 

Later on Thursday, market players will closely monitor the Australian employment data, including the Unemployment Rate and Employment Change for December. On the US docket, Housing Starts, Building Permits, weekly Initial Claims, and the Philly Fed Manufacturing Index will be due. 

 

Jan 18, 2024

EUR/JPY Price Analysis: Post gains amid risk-off mood, peaks around 161.00

The Euro (EUR) rose sharply against the Japanese Yen (JPY) on Wednesday, up 0.73% amid a risk-off impulse and economic data suggesting that major central banks would deter cutting rates in the near term.
Read more Previous
Jan 18, 2024

Gold Price Forecast: XAU/USD remains on the defensive above $2,000

Gold price (XAU/USD) drops to the $2,000 mark during the early Asian trading hours on Thursday.
Read more Next