Today the focus is on Apple’s automotive dreams, Oil’s continued rise, and Tesla’s big move & investigation.
The US JOLTs Job Openings report will be released. Forecast: 6.500M. If the results are lower than forecast it could give a negative push to the USD.
Assets to trade: USD/JPY, USD/CHF, USD/AUD
South Korea’s Hyundai Motor Co said on Monday it is no longer in talks with Apple Inc on autonomous electric cars, just a month after it confirmed early-stage talks with the tech giant. Affects Apple
The outlook for Brazilian inflation rose for a fifth consecutive week. Affects ETF MSCI Brazil
On Monday oil surpassed $60 a barrel for the first time in a year, on hopes that a $1.9 trillion COVID-19 aid package will be passed by U.S. lawmakers as soon as this month. Affects Brent
Bitcoin’s price jumped sharply to an all-time high after Tesla revealed a big stake ($1.5 billion) in the digital coin and said it would start accepting payments in bitcoin in exchange for its products. Affects Bitcoin
Chinese government officials have met representatives from U.S. electric carmaker Tesla Inc over reports from consumers about battery fires, unexpected acceleration and failures in over-the-air software updates. Affects Tesla
Tesla has made a huge decision as one the first large international retailers to back Bitcoin by acquiring $1.5 billion worth of the digital currency in preparations to begin accepting the currency for its products. While on the other hand China has summoned the e-car company explain and investigate recent incident with it products on the mainland, including battery fires and more.
Tesla gapped up on Monday morning on excitement around BTC, but if it passes its resistance level around 884 the prices could sky-rocket.
The heavy equipment manufacturer gapped up establishing its resistance line as its new support level.
Prices created a large gap on Monday and could continue climbing to new highs.