BBC challenges tech giants

The U.K. broadcaster BBC is set to invest the huge amount of $44 million on children’s content and services over the next three years to compete with global media giants like Facebook, Netflix and Amazon. This programme will “boost its online offering for the younger audiences through new forms of content and interactivity.” This will include multimedia content such as live online programming, vlogs, games and apps in a bid to enable the young audiences to “create, connect and share.”

source: CNBC, Reuters

Overall prices in British shops have fallen at its slowest in June since November 2013, according to the British Retail Consortium (BRC). Shop prices dropped by 0.3 percent, while food prices rose by 1.4 percent in June, the highest since January 2014. This could be an aftermath of the high inflation rate released earlier this year. Today, U.K. will report its Services Purchasing Managers Index (PMI) for June at 08:30 GMT, watch out for this event.

Elsewhere, U.S. will release its Federal Open Market Committee (FOMC) Meeting Minutes at 18:00 GMT, and this can generate clues on future interest rate decisions, thus demands much attention. Gold prices surged higher ahead of the release of Fed minutes, gold futures rose by 0.73 percent as it traded at $1,228.09 a troy ounce.

Technical Analysis

UKOIL

UKOIL

As the U.S. markets resume after the public holiday, investors can now trade the international benchmark, Brent crude. The commodity started off bearish today at 00:00 UTC where it was seen trading at $49.69 a barrel. It edged lower by 0.1 percent as it traded at $49.55 a barrel around 04:00 UTC today by another rise in OPEC supplies despite a pledge to cut down production. It may fall further in today’s trading session.

USD/JPY

USD/JPY

This currency pair recorded several pullbacks as from the 113.250 level around 02:00 UTC to close this bearish trend at the 112.843 level by 06:00 UTC on Tuesday morning. However, it recovered its losses later during yesterday as it gained momentum around 15:00 UTC to reach a level high of 113.305 yen around 21:00 UTC. As the yen edged higher today, the USD/JPY pair also climbed up gradually as from 02:00 UTC, and could surge further on the market.

EUR/JPY

EUR/JPY

The EUR/JPY pair performed remarkably in yesterday night’s trading hours as it recorded a huge set of momentary jumps as from 15:00 UTC to close this bullish trend by 21:00 UTC at 128.573 yen. It was last quoted on a bearish candle at the 128.319 level around 01:00 UTC on Wednesday, and immediately moved towards an uptrend from the very next hour at 02:00 UTC. It may continue to rise through the day, consider using the Options Builder tool for this one.

Things to watch on the market

Tip 1

Consider trading on stocks such as Netflix, Facebook and the Amazon vs Netflix pair once these are made available on the trading platform.

 

Tip 2

Consider trading assets such as the EUR/GBP, GBP/USD and the FTSE 100 in regards to the economic event due during the day.

 

Tip 3

Assets such as the EUR/USD, AUD/USD, GBP/USD and the Wall Street indices would be a good opportunity to trade today as markets open after the U.S. public holiday.