We are seeing a climb in the dollar ahead of the the Fed Powell’s speech. We have seen a drop in the Conference Board’s Consumer Confidence falling to 84.8 in August making for a sloth paced recovery. We are however seeing hopes for a Coronavirus vaccine grow momentum as Cambridge has been offered funding from the British government.   With the dollar strengthening the pound weakens. With Brexit talks locked at the horns the bulls will have to wear the weight of the pressure coming down on the GBP. Keep an eye on 1.3200 as your first point of resistance with 1.3270 to follow. On the more likely downside you can consider 1.3013 and 1.3050.   Another currency pair finding it hard to crack the ceiling is the EUR/USD. Although trading higher it can’t maintain the trend as the bullish dollar pushes it back. Traders are anticipating that Fed Chair Powell would announce another boost in monetary stimulus. As the pair hovers around the 1.1800 mark it is awfully close to the strong resistance line. A break beyond this can see it head down a slippery slope on a toboggan heading straight to 1.1755 with 1.700 to follow. On the upside consider a resistance level of 1.850 with 1.1900 to follow.

Our Liquidity Providers

Funding Methods

We offer a wide range of funding methods giving you the flexibility of depositing funds to your account at any time.

Copyright © ACMarkets

-

Experience by Xelure Technologies

Risk Statement

LICENSE:

ACM is a registered business name of Asia Capital Markets LLC (316 LLC 2020). Asia Capital Markets LLC is licensed in Saint Vincents and the Grenadines by Saint Vincents and the Grenadines Financial Services Authority (FSA). ACM is licensed to provide brokerage, training and managed account services in foreign exchange/currencies, commodities, indexes, CFD’s and leverage financial instruments.

DISCLAIMER, RISK WARNING AND PRODUCT SUITABILITY :

Any advice included in this website or correspondence is general advice only and is based solely on consideration of the investment or trading merits of the financial products alone, without taking into account the investment objectives, financial situation and particular needs (i.e. financial circumstances) of any particular person. Before making an investment or trading decision based on the advice, the recipient should carefully consider the appropriateness of advice in light of his or her financial circumstances and should carefully review the Product Disclosure Statement regarding the relevant financial product as provided by your investment broker.

Investing in over-the-counter derivatives carries significant risks and is not suitable for all investors. You could lose substantially more than your initial investment. When acquiring derivative products, you have no entitlement, right or obligation to the underlying financial asset.

Asia Capital Markets does not accept applications from the residents of China, UK, Europe, USA, Japan or Australia. The information on ACM’s website does not intend to be used by or distribution to any individuals where such distribution or use would be contrary to local law or regulation.