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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 Pound Pounded Ahead of Tomorrows UK Supreme Court Decision

Article By: ,  Head of Market Research
September 23, 2019 5:07 PM

Market Brief: Pound Pounded Ahead of Tomorrow’s UK Supreme Court Decision
  • FX: The pound was the weakest major currency today ahead of the UK’s Supreme Court’s ruling on Parliament’s prorogation tomorrow morning; separately, the EU’s chief Brexit negotiator Michel Barnier said that there was “no basis for a deal.” The New Zealand dollar was the day’s strongest major currency.
  • US data: Markit’s Manufacturing and Service PMI figures both came in near 51, signaling slow growth, though the Services employment component did drop into contractionary territory for the first time since 2010.
  • Commodities: Both oil and gold gained about 1% on the day.

  • US indices closed mixed in a generally quiet session as traders awaited new Brexit developments and more clarity in US-China trade tensions.
  • Consumer Staples (XLP) were the strongest major sector on the day, while Health Care stocks (XLV) brought up the rear.
  • Stocks on the move:
    • Embattled online retailer Overstock.com (OSTK) dumped another -25% after the company revised down its guidance for Q3.
    • Nike (NKE) gained 1% ahead of tomorrow’s after-the-bell earnings report.

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