Toshiba Still Considering Offers

Toshiba Corp. missed a deadline to sign an agreement to sell its prized chip business by the end of August, as it continues to talk with three suitors. In a statement, the Japanese conglomerate said that it “has not made any decision to reduce the pool of candidate purchasers” of Toshiba Memory Corp. and it is still negotiating with Western Digital Corp., a Japan-U.S.-South Korean group, and Taiwanese electronics maker Hon Hai Precision Industry Co. Toshiba is trying to sell its prized memory chip unit for months and failure to come to a deal could cause a problem for the company.

source:Reuters, BBC News

Germany releases its unemployment change while the Eurozone releases its Consumer Price Index, both for the month of August, due at 08:00 GMT and 09:00 GMT respectively. Elsewhere, in across South Asia, monsoon downpours continue to create havoc with fears that the death toll of 1,200 people in Mumbai will rise as a building collapses. Heavy rains have turned roads into rivers and floods have destroyed 18,000 schools in the South Asia region. More than 40 people are feared to have trapped in a building and rescuers are desperately searching for them.

Canada is set to release its GDP for the month of June at 12:30 GMT and the U.S. will communicate its pending home sales for July at 14:00 GMT today. China, on the other hand, releases its Caixin Manufacturing PMI for August at 01:45 GMT Friday. Meanwhile, Google is building a software for developers to help them “mix graphics with real world views using common camera and motion-tracking hardware,” thus making it in line with its rival Apple.

Technical Analysis

USOIL

USOIL

As the Harvey Storm hit the US state of Texas, the U.S. West Texas Intermediate is seen dropping value on the market since Monday. In yesterday’s trade session, it was seen consolidating, but it was still following a downtrend as it record many bearish candles through the day. It is seen trading with much volatility in today’s session, however, it could eventually pick up some height later through the day, keep an eye.

EUR/USD

EUR/USD

Since Tuesday, the EUR/USD pair is seen following a downtrend on the foreign exchange market. Yesterday, it started losing value in its early trade around 04:00 UTC and maintained a bearish trend throughout the day. It was quoted at its lowest at $1.18835 by 20:00 UTC. On Thursday, the asset is seen trading beneath the Ichimoku Cloud indicator, suggesting a downtrend as the U.S. dollar recover on the market, use the Option Builder for this one today.

JPN225

JPN225

In Wednesday’s session, the Japanese Nikkei 225 gained strength around 10:00 UTC, where it traded at 19490 points to record several momentary jumps till it reached the 19571 level by 18:00 UTC. Today, the Asian index rose to two-week highs in morning trade after the U.S. dollar rose against the yen. It gained momentum from the very beginning of its session and reached a high level of 19670 points by 03:00 UTC and is expected to rise further.

Things to watch on the market

Tip 1

Shares of Toshiba can be traded once it is made available on our trading platform, the company have plunged into losses and it must remedy by next March to avoid delisting from Tokyo stock market.

 

Tip 2

Pertaining to events due today, consider trading the EUR/USD, EUR/GBP, EUR/JPY and the Dax index. The BOMBAY SE or Bombay Stock Exchange ca be traded with the Long Term tool.

 

Tip 3

It is advisable to trade the USD/CAD, GBP/CAD, GBP/USD and the Shanghai Composite.