Analytics

News, Trends, & Analytics 09.12.2020

Tesla will raise $5 billion

Today, the focus is on improving economic sentiment in Germany, forecasting GDP growth in Japan, as well as Tesla’s intentions to raise $5 billion.

 

Calendar

15:00 UTC

The Bank of Canada will decide on the interest rate. The regulator is expected to keep the rate at the current level of 0.25%. However, when the news is announced, a sharp increase in the volatility of the CAD currency pairs is possible.

Assets to trade: USD/CAD, EUR/CAD


15:00 UTC

The report on the change in US crude oil reserves will be released. A decrease of 1.514 million barrels is projected. If the real values turn out to be above 0, the price of a barrel of Brent may react with a decline.

Assets to trade: Brent

 

News

COVID-19 vaccination kicks off in the UK. Affects the FTSE 100


Germany’s economic sentiment index improved sharply. Affects EUR


Tesla will raise an additional $5 billion through the sale of shares. Affects Tesla


The Japanese Prime Minister Yoshihide Suga expects the new economic stimulus package to boost the country’s GDP by 3.6%. Affects JPY


Representatives of the European Commission admit that trade negotiations with the UK will continue after the end of the transition period. Affects GBP

 

Technical Analysis

Tesla

The company announced plans to raise $5 billion in investments through the sale of a new block of shares. 10 major American banks will act as agents. Experts point out that the new influx of investment will help the company ease its debt burden, as well as stimulate the production of trucks, futuristic Cybertruck pickups and other electric car models. Earlier Goldman Sachs raised the target value of the company’s shares to $780

Despite the bright prospects, Tesla shares may appear overbought. The media have speculated on the topic of a second split of shares, but this cannot continue. The Fibonacci fan shows the asset could correct down to the $600 level.

GBP/CAD

We assume another cycle of asset growth to the upper border of the expanding channel, since the asset reversed from the support level of 1.70000.

AUD/NZD

The currency pair is in a promising place for selling – near the upper border of the descending border.

AUD/NZD on this day in history

  • Since 2000, December 9th has been a trading day 12 times.
  • On 58% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.46%.
  • The downward trend was limited to 1.18%.
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