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
7 Feb 2020

USD/JPY steadies near 109.80, looks to add more than 100 pips for the week

  • USD/JPY remains on track to snap four-day winning streak.
  • US Dollar Index extends rally to 98.70 on Friday.
  • 10-year US Treasury bond yield erases more than 3%.

The USD/JPY pair is trading in the negative territory on Friday as the sour market mood helps the JPY stay strong against the USD. As of writing, the pair was down 0.17% on the day at 109.80. Despite today's poor performance, however, the pair remains on track to close the week nearly 140 pips higher.

The 10-year US Treasury bond yield is down 3.5% on Friday as the relief rally that started earlier in the week seems to be fading away amid a lack of positive developments surrounding the coronavirus outbreak. Reflecting the flight-to-safety, Wall Street's main indexes are trading with modest losses.

USD capitalizes on jobs data

On the other hand, the broad-based USD strength is limiting the pair's losses. The data published by the US Bureau of Labor Statistics on Friday revealed that Nonfarm Payrolls (NFP) in January rose by 225,000 to beat the market expectation of 160,000. Furthermore, the annual wage inflation, as measured by the Average Hourly Earnings, edged higher to 3.1% from 3%.

Commenting on the market reaction to the NFP report, “Markets reacted with lower longer-term bond yields and falling equities, which seems a bit strange given the strong labour market report but we still doubt that this labour market report has led to much disappointment,” said analysts at Nordea.

Boosted by the upbeat data, the US Dollar Index, which tracks the USD's performance against a basket of six major currencies, advanced to its highest level since early October at 98.70 and was last up 0.22% on the day at 98.68.

Technical levels to watch for

 

Feb 7, 2020

US Dollar Index Price Analysis: DXY continues climbing, bulls eye the 99.00 figure

The US dollar index (DXY) is spiking to the upside at fresh 2020 highs while trading above its main simple moving averages (SMAs).
Read more Previous
Feb 7, 2020

NY Fed's GDP Nowcast rose to 1.7% for first quarter of 2020 from 1.5%

The US economy is expected to expand by 1.7% in the first quarter of 2020, the Federal Reserve Bank of New York's latest Nowcasting Report showed. "Ne
Read more Next