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
1 Aug 2018

GBP/USD Review: Climbs to fresh session tops, US data/FOMC looms

   •  Investors looked past today’s UK manufacturing PMI print for July.
   •  USD fails to build on early up-move and helps gain positive traction.
   •  Traders eye US data/FOMC decision for some impetus ahead of BoE.

The GBP/USD pair continued with its steady climb through the mid-European session and has now recovered around 35-40 pips from sub-1.3100 level.

After a rather muted reaction to today's slightly disappointing UK manufacturing PMI, coming in at a three month low levle of 54.0 for July, the pair gained some positive traction and is currently placed at fresh session tops, around the 1.3135-40 region. 

Despite a goodish pickup in the US Treasury bond yields, the US Dollar struggled to build on the early uptick and was seen as one of the key factors lending some support to the major, amid prospects for an eventual BoE rate hike move on Thursday. 

Moving ahead, traders now look forward to the US economic docket, highlighting the release of ADP report on private sector employment and ISM manufacturing PMI, for some short-term impetus ahead of the key FOMC monetary policy decision. 

Technical Analysis

Meanwhile, today's up-move could also be attributed to some technical buying from a short-term ascending trend-line, acting as a neckline support of the bearish head & shoulders chart pattern formation on the 4-hourly chart. 

Hence, the pair needs to decisively break through the 1.3150-60 supply zone before traders start positioning for any further appreciating move ahead of the highly anticipated BoE Super Thursday.

Aug 1, 2018

BoE: MPC to hike rates by 25bp - TDS

Analysts at TD Securities expect the BoE’s MPC to hike rates by 25bp, with a clear majority vote. Key Quotes “We think this will be the last hike un
Read more Previous
Aug 1, 2018

US: Expect a sharp decline in total light vehicle sales in July - Nomura

Analysts at Nomura are expecting a sharp decline in total light vehicle sales in July to 16.8m saar from 17.4m in June for US. Key Quotes “The sales
Read more Next