Market Brief: GBP/USD Hits a 30-Month Low

See a summary of the top market themes and trends from today's US trading session!

  • 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.
    • (OSTK) surged nearly 20% after the online retailer reported strong earnings.


This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.

StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.

In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.

StoneX Financial Pte. Ltd. is not under any obligation to update this report.

Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit for the complete Risk Disclosure Statement.