Market Brief: “Risk On” Reigns on US-Sino Trade Optimism

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

  • FX: The loonie was the strongest major currency on the day (perhaps helped along by end-of-month flows), while the traditional “safe havens” (Swiss franc and Japanese yen) were the weakest.
  • The British pound finished in the middle of the major currency pack as traders continued to digest yesterday’s potential “Constitutional Crisis”.
  • US data: Q2 GDP (1st revision) came in at 2.0% as expected, though pending home sales figures missed the mark.
  • Commodities: Gold dropped more than 1% on the day while oil tacked on about 1.5%.

  • US indices gained more than 1% across the board on US-China trade optimism after China opted not to escalate tariffs further and low-level talks resumed.
  • Industrials (XLI) were the strongest sector while Consumer Staples (XLP) were the weakest.
  • Stocks on the move:
    • Best Buy (BBY) fell 8% after a disappointing earnings report.


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.