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Tesla sales fell nearly 60% in April in FranceTesla board begins quiet search for possible Musk successor - more on thisTesla has opened a search for a CEO to succeed Elon Musk-
The Bank of Japan kept its short-term interest rate at 0.5%, a widely exp4ected on hold decision. The BoJ cited growing headwinds from higher US tariffs. The Bank cut its 2025 and 2026 economic growth forecasts in its quarterly outlook report. This was a not unexpected move. A cautious BoJ today.
USD/JPY has risen towards 143.50 with the net dovish statement and report.
Dialling back the clock a little to before that focal point for the session.
In late US time United States trade representative Greer admitted that there are no official talks with China on trade, He said also that ‘initial’ trade deals with some other countries are still weeks away.
Australia published March trade data, showing a widening surplus on a surge in exports, up 7.6% m/m on gold (26% rise in non-monetary gold shipments) and other commodity shipments. Iron ore exports recovered from weather disruptions.
Exports to the US jumped. Australia runs a trade deficit with the US but in March recorded a surplus ahead of tariffs.
Imports dropped by 2.2% m/m, capital goods showing a notable drop.
Also from Australia today were export and import price indexes. Consumer goods import prices rose, which may impact inflation ahead if such rises continue.
Of note for those with an interest in equities, the Wall Street Journal reported that Tesla’s board has begun discussions with search firms to explore potential successors to CEO Elon Musk. In the reports the Journal noted that Some directors, including Tesla co-founder JB Straubel, have been meeting with major investors to reassure them the company is in good hands. This will be in reference to the damage Musk has inflicted on the brand through his political and ideological activities. Data from France released today gave some insight into this. While new car registrations in France fell 5.64% in April from a year earlier the figure for Tesla was an order of magnitude worse, Tesla sales fell 59.45%.
US equity indexes rose in ‘overnight’ Globex trade, adding to their solid bounce during Wednesday RTH trade.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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