Today the focus is on Boeing’s new deal, the British stock market about to lose a major company, and the US government’s investigation into Tesla autopilot.
The UK Consumer Price index will be released. Forecast: 2.3%. A higher than expected reading might give a positive push to the GBP.
Assets to trade: GBP/USD, EUR/GBP, GBP/JPY
The US Building Permits measures will be released. Forecast: 1.610M. A bigger than expected reading might give a positive push to the USD.
Assets to trade: USD/CAD, EUR/USD, USD/JPY
The US Crude Oil Inventories measures will be released. Forecast: -1.259M. If the reading is higher than expected, Brent could receive a negative push.
Assets to trade: Brent
A weak report for July retail sales in the US casts doubt on the continuing growth of the country’s economy, making investors more hesitant. Affects Dow Jones
Experts are concerned that crude oil demand will be hit in the second half of the year, as the global recovery rates are slowing down. Affects Brent
Investors are concerned as the UK stock market is about to lose one of its biggest companies, as BHP Group shareholders are planning to move it completely to Australia. Affect FTSE 100
The US federal government launched an investigation into Tesla’s Autopilot system over raised safety concerns. Affects Tesla
Boeing secured more contracts for its 737-9 jets, remaining on a steady recovery route. Affects Boeing
Tesla is once again hit with problems from the government, as it barely concluded its Chinese deals. At the same time, it is early to panic, as all previous investigations never turned up anything of substance.
Tesla slipped from its weekly heights, and corrections didn’t manage to turn into a trend reversal, so expect its price to continue moving down.
The pair keeps moving upwards, and even though it is losing momentum behind its growth, we believe that it will not reverse today.
Silver is moving downwards, and short of small corrections, we don’t believe that its direction will change today.