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
21 Jan 2025

DXY: Unwinding of consensus trade – OCBC

US Dollar (USD) saw a sharp drop after Trump announced no immediate tariffs on China. USD/CNH saw a sharp move below 7.26 overnight before rebounding. DXY was last at 108.50 levels, OCBC FX analysts Frances Cheung and Christopher Wong note.

Risks skewed to the downside

“Subsequent headlines came by quoting Trump imposing a 1 February deadline and tariff of as much as 25% on Mexico and Canada. Not surprisingly, MXN and CAD came under pressure. An absence of immediate tariffs but a 1 February deadline suggests that this is a strong call for Mexicans and Canadians to come back to the negotiating table quickly. Nevertheless, this underscores the fluidity of tariff developments. Tariff uncertainty remains in terms of timing, magnitude and scope of products.”

“And we continue to hold to the view that the implications on markets can be very much 2-way. On one hand, a longer delay on tariff announcement will continue to provide a breather for risk proxies while consensus trade (long USD) unwinds. On the other hand, a swift implementation of tariff would undermine sentiments and boost the USD. We do not expect a one-way trade in Trump regime.”

“Daily momentum is bearish while RSI fell. Risks skewed to the downside. Support at 108, 107.50 (50DMA). Resistance at 108.75 (21 DMA), 110.10 levels. With Trump inauguration done and dusted, next few days will be closely watched with regards to executive orders, executive actions he will sign.”

Jan 21, 2025

USD rebounds on renewed tariff threat – Scotiabank

Markets generally and high beta FX in particular breathed a sigh of relief yesterday when the WSJ reported that President Trump would not impose aggressive tariffs immediately on returning to the White House.
Read more Previous
Jan 21, 2025

CAD slips to minor new low on USD on tariff news – Scotiabank

It’s back to square one for the Canadian Dollar (CAD) after gaining to the mid/upper 1.42s, if only briefly yesterday. Gold is up but energy prices have dropped in response to the renewed tariff threat.
Read more Next