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
9 Jan 2020

AUD/USD clings to modest recovery gains, lacks follow-through

  • AUD/USD stages a modest bounce from mid-0.6900s, three-week lows.
  • Upbeat domestic trade data remained supportive of the recovery movement.
  • Softer Chinese inflation figures did little to provide any additional boost.

The AUD/USD pair edged higher during the Asian session on Thursday, albeit lacked any strong follow-through and remained below the 0.6900 handle.

The pair stalled its recent sharp pullback from multi-month tops – levels beyond the key 0.70 psychological mark – and staged a modest recovery from three-week lows amid improving global risk sentiment.

The upside remains limited

The de-escalation of geopolitical tensions in the Middle East remained supportive a fresh wave of the risk-on trade, which eventually provided some immediate respite to perceived riskier currencies – like the Aussie.

Tensions between the US and Iran ease significantly after the US President Donald Trump on Wednesday announced fresh sanctions on the Islamic Republic and signalled there would be no further military action.

The uptick was further supported by upbeat Australian Trade Balance data, which showed a rise in surplus to 5.80 billion in November as compared to the previous month's downwardly revised reading of 4.08 billion.

Meanwhile, softer Chinese inflation figures – CPI and PPI prints for December – did little to dent the sentiment, albeit turned out to be the only factor capping gains for the China-proxy Australian dollar, at least for now.

Moving ahead, there isn't any major market-moving US economic data due for release on Thursday and hence, the USD price dynamics/broader market risk sentiment might continue to act key determinants of the pair's momentum.

Technical levels to watch

 

Jan 9, 2020

China’s CommerceMin: Liu He will go to Washington to sign Phase One trade deal

Reuters is out with the confirmation from the Chinese Commerce Ministry, as it officially announces on Thursday that the country’s Vice Premier Liu He
Read more Previous
Jan 9, 2020

USD/JPY charts an outside day to the topside – Commerzbank

Karen Jones, analyst at Commerzbank, points out that USD/JPY charted an outside day to the topside yesterday and this effectively neutralises the char
Read more Next