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.
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.
Octa trading broker
Open trading account
Back

USD/CAD climbs fresh 50-month highs above 1.4100

  • Fears over USD shortage is pushing DXY higher on Tuesday.
  • WTI posts small recovery gains, trades below $30.
  • Coming up: Manufacturing Sales from Canada, Retail Sales from US.

After breaking above the 1.4000 handle during the European session on Tuesday, the USD/CAD pair extended its rally and rose to its highest level since January 2016 at 1.4135. As of writing, the pair was trading a couple of pips below that peak, adding 0.85% on a daily basis.

DXY breaks above 99

The broad-based USD strength amid heightened fears over funding stress seems to have become the main market theme. The US Dollar Index, which tracks the greenback's performance against a basket of six major currencies, was last up 1.22% on the day at 99.20.

According to Reuters, excessive US swap prices show that the US dollar funding situation continues to worsen with overnight (T/N) EUR/USD swap surging to 10% vs 0.15% on a regular day.

On the other hand, the barrel of West Texas Intermediate struggles to stage a meaningful recovery and continues to trade near the $29 mark to make it difficult for the commodity-related loonie to show resilience against the buck.

In the second half of the day, the Manufacturing Sales data from Canada and the Retail Sales and Industrial Production data from the US will be featured in the economic docket.

Technical levels to watch for

 

US Dollar Index Price Analysis: Upside momentum could test 100.00

DXY has resumed the upside after Monday’s pullback and it has now retaken the area above 99.00 the figure. If bulls keep pushing higher, then the next
Read more Previous

Poland: Fiscal stimulus will be PLN negative – TDS

Either today or tomorrow, broad economic stimuli are likely to be announced by the Polish government, according to economists at TD Securities. EUR/PL
Read more Next