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
Trading news
Back
16 Mar 2020

AUD/USD steadies below 0.6200 following a volatile start to the week

  • Industrial Production and Retail sales fell sharply in China.
  • US Dollar Index stays below 98 following Fed's drastic rate cut.
  • RBA will announce new policy measures on Thursday.

The AUD/USD pair started the week with a 50-pip bearish gap and fluctuated sharply during the Asian trading hours after the Federal Reserve announced a 100 basis points cut to its policy rate. After spiking above 0.6300, the pair quickly erased its gains and renewed its lowest level in more than a decade below 0.6100. With markets turning relatively calm ahead of the American session, the pair is trading at 0.6172, down 0.15% on a daily basis.

Will the RBA lower its policy rate?

Following the Fed's announcement, the Reserve Bank of Australia noted that it stands ready to purchase government bonds in the secondary market to help the financial markets continue to operate in an orderly manner. Additionally, the RBA said that it will be announcing further policy measures on Thursday.

According to Westpac analysts, the RBA is likely to lower its policy rate by 25 basis points to 0.25%.

Meanwhile, the data from China showed that Industrial Production contracted by 13.5% on a yearly basis in February and Retail Sales declined by 20.5% in the same period to reflect the impact of the coronavirus outbreak on the economy.

On the other hand, the greenback is struggling to find demand on Monday and keeping the pair's downside limited for the time being. At the moment, the US Dollar Index is down 0.85% on the day at 97.85.

Technical levels to watch for

 

Mar 16, 2020

Coronavirus: Europe to contract by 2.5% in 2020 – ANZ

European countries are strengthening their efforts to fight COVID-19. Measures ranging from quarantine and business closures to working from home and
Read more Previous
Mar 16, 2020

Breaking: Gold prices crashes below $1,500 amid coronavirus-linked financial distress

-- more to come
Read more Next