Elon Musk considering taking Tesla private

Chief Executive Elon Musk said on Tuesday he is considering taking Tesla Inc private in what would be the largest deal of its kind. In a tweet, Musk said: “Am considering taking Tesla private at $420. Funding secured.” He also stated that he is ready to sell shares at $420, and the deal would worth $72 billion overall. Shares of Tesla jumped immediately as high as $371.15 and later edged higher by 11% to close at $379.57, slightly below their all-time high. In general Tesla stock is on a massive uptrend following strong earnings.

source:CNBC, Reuters

US President Donald Trump has issued a strong warning to anyone trading with Iran after his re-imposition of sanctions on the country. Iran’s Rouhani had responded that the measures were “psychological warfare” which aimed to “sow division among Iranians.” The sanctions follow the US withdrawal from the Joint Comprehensive Plan of Action, which is also known as the Iran nuclear deal. Trump had called the deal “one-sided, disastrous, and the worst I’ve ever seen.” According to him, renewed economic pressure will force Iran to agree to a new deal.

Amazon Prime members can now order groceries from Whole Foods and pick them up from a store within an hour, the e-commerce giant announced on Wednesday. Subscribers to Amazon’s Prime service can order food from Prime Now app and choose the pickup delivery option. Then they can drive to the designated Whole Foods store in a reserved parking spot. Users whose orders are $35 or more can pick up their groceries in as little as an hour or 30 minutes.

Technical Analysis

BTC/USD

BTC/USD

Bitcoin edged lower by 8.13% on Wednesday and currently trades at $6,439.5; it is expected to trade to even lower levels through the rest of the day. Other major cryptocurrencies, including Ripple and Ethereum plunged by 11.1% and 10.1% respectively. Bitcoin;s market cap was last at $112.06 billion or 48.5% of the total cryptocurrency market cap.

EUR/USD

EUR/USD

The EUR/USD pair rebounds from its multi-week loughs and uplifts itself from the support handle of $1.15 on the forex market. The US dollar remains weak on the market, but it is successfully moving this currency pair on a higher note as it edged up slightly today. The EUR/USD pair was quoted trading at $1.16237 at 04:00 GMT, it is expected to gain further through the day.

AUD/USD

AUD/USD

The Australian dollar rallied significantly on Tuesday’s session as the Reserve bank of Australia kept its interest rate unchanged at a record low of 0.75%. This led the AUD/USD pair skyrocket during the trading on Tuesday, reaching a record high of $0.74377. The asset is seen fluctuating in today’s early session but continues to hover around the 0.74 level.

Things to watch on the market

Tip 1

The US Crude Oil Inventories is due at 14:30 GMT.

 

Tip 2

New Zealand will report its Interest Rate Decision at 21:00 GMT today.