Tesla in the center again

Daily Analysis - 22/11/2019

Elon musk unveils Tesla’s electric pickup

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On Thursday night Elon Musk Tesla's CEO revealed the company’s pride, the Cybertruck. Cybertruck is a brand new all-electric pickup, and the announcement happened in one of the company’s trademark events in Los Angeles. The Cybertruck will cost around $39,900 and its design includes a futuristic design.

The Cybertruck is the sixth vehicle in tesla's stock following its start back in 2003, and is at the moment in test mode. It will be facing tough market competition especially challenging the Ford F Series, which has remained the best-selling pickup for more than 4 decades in the US. Now another competitor that is second in command is GM with its impressive Chevrolet Silverado.

Gold remained in range


On Friday the famous safe haven Gold remained constant while uncertainties predominated covering a preliminary trade agreement being reached between China and the United States for 2019. US gold futures rose about 0.1% to $1,464.59 while Spot gold remained in a stable mode near $1,464.35 per ounce. China called the top US trade negotiators for a fresh series of discussions in Beijing in an attempt to raise the chances to achieve an agreement, following some reports that a ‘phase one’ trade agreement may not be reached this year.

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Oil left behind its 60-day top


On Friday Oil fell from its most important level in nearly 60-days due to uncertainties over the demand for crude while concerns remain regarding the US-China trade deal. That was enough to press any news regarding a possible expansion of production cuts between major producers that pushed the price higher in the previous session. Brent crude futures fell 30 cents, to $63.65 a barrel. WTI crude fell 34 cents at $58.23 a barrel.

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Greenback was marginally softer


On Friday the popular greenback was testing the sentiment while a week of confusing messages about the possibility of China-US tax rollbacks moved investors. The US dollar was softer versus the euro at $1.1060.

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