According to chief executive Elon Musk, Tesla Motors plans to unveil its electric articulated lorry in October. He tweeted that the Tesla Semi truck will be unveiled and a test ride is tentatively “scheduled for October 26 in Hawthorne” and it is “worth seeing this beast.” Last year, the entrepreneur expressed that the company wants to branch out beyond cars and he had also announced his ambitions for electric vehicles, including a commercial lorry. Countries around the world want to ban diesel vehicles and switch to cleaner engines and this move by Tesla would definitely create a highly competitive area for other carmakers.
Major event trending today is the Bank of England interest rate decision for September which is due at 11:00 GMT and it will also publish its meeting meetings, the same hour. This report will definitely impact the trend of the U.K. currency and affect currency pairs on the foreign exchange market. Yesterday, U.K. reported a fall of 4.3 percent in its unemployment rate in the three months to July, its lowest since 1975. Even though inflation amounts to 2.9 percent in August, wages are failing to keep up, thus affecting jobless rate.
The U.S. releases its Core CPI for the month of August at 12:30 GMT today and this report is a key way to measure changes in purchasing trends and inflation. Meanwhile, the U.S. President Donald Trump and Democrats in the U.S. Congress have agreed to work together to protect thousands of young undocumented migrants from deportation. This measure will protect some 800,000 people in the U.S. and provide permits for work and study.
Yesterday, this currency pair reached a high level of $1.33179 at 07:00 GMT, the strongest level since Monday’s session; however it started tumbling from the very next hour. It tumbled around 12:00 GMT at $1.32776, where it was dragged by several pullbacks to reach $1.32024 by 16:00 GMT on Wednesday. Today, the asset opened its session on a negative note at 00:00 GMT and it was seen moving towards a downtrend for today.
Since the beginning of this week, the EUR/GBP pair is seen trading below the Ichimoku Cloud indicator as it performs below the 0.91200 level. On Monday and Tuesday, the asset was seen fluctuating on the fore market and maintained this trend till Wednesday’s morning trade session. It fell as from 11:00 GMT to reach a low level of 0.89992 around 17:00 GMT yesterday. It is seen fluctuating again in today’s session, following the same trend it had set before.
After recording much volatility on the early morning trade, the Japanese Nikkei 225 gained strength as from 11:00 GMT to record momentary jumps till 14:00 GMT where it quoted at 19866 points yesterday. On Thursday, the index started tumbling as from 02:00 GMT after China released its industrial production and revealed that China is showing a surprising robust growth. This Asian index could fall further in the upcoming hours, keep an eye.
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It is a good opportunity to trade on the EUR/GBP, GBP/USD, GBP/JPY and the FTSE MIB-JUN16, which is available on the Classic Digital Options.
Consider trading on the EUR/USD, USD/JPY, AUD/USD and Wall Street indices.