The co-founder and CEO of Tesla, Elon Musk tweeted photos of the latest car, the “First Production Model 3” on Saturday after it rolled off the assembly line at the firm’s California production plant. The Model 3 is the first mass-market car and its first 30 owners will receive the driver’s seat on the 28 July, and it will then be available to the public. Its base price is $35,000 (£27,100), which is less than Tesla’s next cheapest model. Tesla’s stock closed up 1.4 percent Friday after the company reported its second quarter vehicle production report.
U.S. reported its jobs data on Friday, with an increase of 222,000 new jobs, much above analysts’ expectations of 179,000. This led Asian equities to gain value on the market, with the Japanese Nikkei 225 edging higher by 0.95 percent, the Kospi index gained 0.23 percent and the Hang Seng index surged by 0.99 percent. The U.S. dollar also stands tall in today’s session after a bigger-than-expected increase in the U.S. jobs, and the USD/JPY pair was seen trading at 0.2 percent higher at 114.16 yen.
Earlier today, China reported its Consumer Price Index (CPI) and its Producer Price Index (PPI) for June, both at 01:30 GMT. China’s inflation data for June was in line with economists’ expectations, while its CPI rose by 1.5 percent and the PPI rose by 5.5 percent, according to the National Bureau of Statistics. In Japan, the yen was seen picking up strength ahead of these data releases.
A look at the AUD/JPY pair clearly depicts a positive trend for today, the asset is seen picking momentary jumps since Friday’s session. The Aussie attempted to rally on the forex market, yet it lost its gains with its other rivals. The asset edged higher at 00:00 UTC as it traded at 86.670 yen to reach a high level of 86.891 yen by 03:00 UTC today. A change in trend is expected around 11:00 UTC, use the Option Builder to trade around this time zone.
This currency pair performed impressively on Friday’s session, as it gained momentary jumps as from 02:00 UTC at the 0.87991 level to reach the 0.8848 level by 10:00 UTC. For today’s session, the EUR/GBP pair was seen recording much volatility on the foreign exchange market, and it may continue to fluctuate through the day. Changes in the value of the euro could uplift trend of this asset, keep a close watch on this.
Since Friday, this Wall Street index was seen recording bullish candles and was last quoted on a high level at 2426.2 points as it reached 17:00 UTC. It initiated the first day of this week on a positive note at 00:00 UTC at 2427.4 points to reach a record high at 2430.9 points around 03:00 UTC. Hovering above the Ichimoku Cloud indicator suggests an uptrend for today, make use of this opportunity today.
Consider trading on stocks of Tesla Motors as this could be impacted as all eyes remain glued to the Model 3 car.
Asian indices can be traded on the Classic Digital Options once it is made available on the trading platform. Investors should not overlook currency pairs such as the EUR/USD, USD/JPY and the AUD/USD as the dollar surges on the market.
Investors are advised to trade the Shanghai Composite, the SSE 180 index, and JPY pairs in regards to positive report figures.