Google Glass Comeback

Google has officially announced the revival of its Google Glass, which is an updated version that targets factory workers and doctors. The company said the Glass Enterprise Edition has improved battery life an updated camera module that bumps resolution from 5 megapixels to 8, and it feels more comfortable during long-term wear than it used to be. However, it still resembles the original model, with a small see-through display and built-in camera and can face competition from Microsoft’s HoloLens.

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The U.S. President Trump met Russian President Vladimir Putin twice at the G20 summit in Hamburg earlier in the month. The White House, however described this interaction as a “brief conversation,” not a “second meeting.” Meanwhile, the U.S. Building Permits for June is due to be released at 12:30 GMT today. It would be interesting to check the trend of the U.S. dollar later, the currency nursed losses after it traded to a 10-month low against major currencies.

The U.S. Energy Information Administration (EIA) will release the U.S. Crude Oil Inventories report at 14:30 GMT. Crude oil fell in today’s early trading hours after ongoing high output from OPEC producers. The international benchmark, the brent crude was trading at $48.81 a barrel around 03:00 GMT, while the U.S. West Texas Intermediate traded at $46.33 per barrel. Elsewhere, Japan will be releasing its trade balance report for June at 23:50 GMT.

Technical Analysis

JPN225

JPN225

On Tuesday, the Japanese Nikkei traded on a mixed note, it tumbled as from 09:00 UTC at 19998 points to close its downtrend by 12:00 UTC at 19923 points. However, later during the day, it started picking up strength as from 15:00 UTC. Today, the index initiated its session on a positive note and reached a record high at the 20004 level around 02:00 UTC. It may rise further through today, consider trading this index once it is available.

AUD/USD

AUD/USD

The Australian dollar edged higher on hawkish RBA meeting minutes released yesterday. The AUD/USD pair rocketed higher after this data release as it shifted towards an uptrend on the market. It reached a highest level at $0.79267 in the early trading hours at 01:00 UTC today. A look at the asset’s graph depicts an uptrend through the rest of today as it is seen hovering above the Ichimoku Cloud indicator, use ladder trading for this one today.

EUR/AUD

EUR/AUD

Yesterday, the EUR/AUD pair started tumbling from the very beginning of its session at 01:00 UTC at the 1.47470 level, and was seen dragged by a downtrend. It recorded few pullbacks on Tuesday’s session and today, it was seen down on a bearish candle at 00:00 UTC. It was quoted at a record low at the 1.45554 level around 02:00 UTC, and it could drop further through the rest of today as it is trading beneath the Ichimoku Cloud indicator.

Things to watch on the market

Tip 1

Consider trading on stocks of Alphabet, pairs such as Apple vs Apple, Alphabet vs Facebook once these are available on the trading platform.

 

Tip 2

Currency pairs such as the EUR/USD, GBP/USD, AUD/USD can be traded in regards to today’s economic event.

 

Tip 3

Investors are advised to trade the Brent crude oil-apr16, Gold vs Oil, USD/JPY, EUR/JPY and GBP/JPY.