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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 GBPUSD Hits a 30Month Low

Article By: ,  Head of Market Research
August 9, 2019 4:59 PM

Market Brief: GBP/USD Hits a 30-Month Low
  • FX: The Japanese yen was the strongest major currency, while British pound was the weakest, taking GBP/USD through 1.2100 to its lowest close in more than 30 months.
  • President Trump was (of course) tweeting today, stating that the US doesn’t have to devalue the dollar, but that he’d like to see the Fed cut interest rates by 1.00%. Initial fears about the US government banning Huawei were assuaged by news that Federal authorities are still accepting applications for certain non-sensitive companies to deal with the firm.
  • Commodities: Oil prices rallied nearly 4% today to finish just below the week’s opening levels. Gold was flat on the day.

 

  • US indices fought back from early losses but still closed lower on the day and down slightly on the week overall
  • Health Care (XLV) was the strongest sector on the day, while Communication Services (XLC) brought up the rear.
  • See the key economic data and market trends we’ll be watching in the coming week!
  • Stocks on the Move:
    • Uber (UBER) ultimately closed down -1%, despite slightly disappointing earnings after the bell yesterday. Lyft (LYFT) outperformed its rival, tacking on 1% today.
    • Advance Micro Devices (AMD) surged 16% today, completely erasing yesterday’s big drop.
    • Overstock.com (OSTK) surged nearly 20% after the online retailer reported strong earnings.

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