CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Market Brief Cable Continues Collapse Apple Awaited

Article By: ,  Head of Market Research
July 30, 2019 4:56 PM

Market Brief: Cable Continues Collapse, Apple Awaited

  • FX: The British pound was the weakest major currency for the second straight day as BoJo’s government continues to threaten a no-deal Brexit if a new agreement with the EU is not reached by October 31st. The Japanese yen ticked higher amidst general risk-off trade.
  • AUD/USD declined for the 8th straight day to hit its lowest level in six weeks.
  • US data: July consumer confidence surged to 135.7, well above expectations of a 125.0 reading. Core PCE inflation rose just 1.6% y/y, setting the stage for an interest rate cut from the Federal Reserve tomorrow.
  • Commodities: Oil rallied over 2% on rumors surrounding Iran. Gold also gained ground again today.

  • US indices closed marginally lower amidst unease about a lack of progress in US-China trade talks.
  • Energy stocks (XLE) led the way, boosted by rising oil prices, while Utilities (XLU) brought up the rear in today’s trade.
  • Stocks on the Move:
    • Beyond Meat (BYND, -12%) remained on the back foot after announcing a secondary offering with yesterday’s earnings report.
    • Capital One Financial (COF) fell 6% after the company revealed a hacker gained access to 100 million credit applications.
    • Procter and Gamble (PG) tacked on 4% after reporting strong earnings and revenue figures.
    • Apple (AAPL, -0%) is poised to report earnings after the bell – stay tuned to twitter for our coverage of the release!


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