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News, Trends, & Analytics 25.10.2019

Tesla’s profits impressed

The ECB’s Mario Draghi leaves with momentum, China could spend billions on the US, & Tesla’s Q3 shocked investors.

 

News

The euro erased its gains on Thursday after business surveys pointed to stagnating economic momentum in the eurozone, ahead of Mario Draghi’s final news conference as president of the European Central Bank. Affects EUR


The United Kingdom will ultimately leave the European Union on the terms of Prime Minister Boris Johnson’s deal, a senior Downing Street source said on Thursday, as EU leaders mulled offering London a three-month flexible Brexit delay. Affects GBP


China aims to buy at least $20 billion of agricultural products in a year if it signs a partial trade deal with the U.S., and would consider boosting purchases further in future rounds of talks, people familiar with the matter said. Affects the S&P500


Italy’s 2020 draft budget does not imply a significant deviation from European Union rules, the Italian government said in a letter sent to the European Commission on Thursday. Affects EUR


Tesla Inc on Wednesday surprised investors with a quarterly profit that sent its shares soaring, as Chief Executive Elon Musk promised a 2020 rollout of a cheaper SUV and more self-driving technology to stay ahead of larger rivals rushing into the premium electric vehicle market he created. Affects Tesla

 

Calendar

10:30 GMT

Russia’s Interest Rate Decision for October will be announced. The decision on where to set interest rates depends mostly on growth outlook and inflation. Affects RUB.

 

Technical analysis

Tesla

The company published its financial report for the 3rd quarter of 2019. The manufacturer managed to record earnings per share at $ 1.91. At the start of trading, the company’s securities went up by 20%.

Fundamental factors play a key role in the current moment. The growth of quotations may continue to the resistance level at 331 or 378.

Basic Dollar index

This index’s chart went beyond the influence of a bearish trend line, so the continued growth of the US dollar is likely to be high.

NZD/CAD

We assume that NZD would show weakness in the coming days, therefore, we recommend continuing to sell this asset.

 

NZD/CAD this day

  • Since 2000, October 25th has been a trading day 14 times.
  • On 42% of those days, the asset ended with growth.
  • The maximum reinforcement range was 0.85%
  • The trend down was limited to 1.38%.

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