From the point of view of macroeconomic data, the main event of yesterday was the publication of the Eurozone GDP information for the first quarter. GDP fell by 0.6%. At the same time, the growth was also negative in the previous quarter. It means that the European economy has again entered a state of recession. And for the second time in a year, that is, the so-called "double recession". Against this background, the breakdown of the resistance of 1.2170 by the EURUSD pair looked somewhat strange, as did the new highs of European stock indices.
Tesla continues to have a cloud over it. The Gigafactory near Berlin will not be opened on July 1, and it is not a fact that it will be opened at all in 2021. Bitcoin is pouring in, and if Max did not lie, saying that the company did not sell a single token, then some are in trouble. And then Michael Burry (played by Christian Bale in The Selling Game) started a new sell-off. But this time not against the US mortgage market, but against Tesla. And if last time he had to invent credit default swaps, this time he used the good old put options on 800,100 Tesla shares, or $534 million.
The final straw that pushed Burry to take this step was Tesla's dependence on regulatory loans for profit. While a couple of years ago this fact could be overlooked, now that more and more automakers are producing their own electric vehicles, fewer companies need to acquire environmental regulatory credits from Tesla in order to comply with environmental regulations. This means that Tesla's financial position becomes extremely vulnerable.
The International Energy Agency (IEA) recently shared its strategic vision of the oil market. It was noted that the world needs to immediately stop developing new oil and gas fields in order to be able to achieve zero emissions by 2050. At the same time, by 2030, electric vehicles should make up 60% of the world fleet. What does this mean for oil prices? According to the IEA, oil prices should fall to $25 per barrel by mid-century.
Tesla continues to have a cloud over it. The Gigafactory near Berlin will not be opened on July 1, and it is not a fact that it will be opened at all in 2021. Bitcoin is pouring in, and if Max did not lie, saying that the company did not sell a single token, then some are in trouble. And then Michael Burry (played by Christian Bale in The Selling Game) started a new sell-off. But this time not against the US mortgage market, but against Tesla. And if last time he had to invent credit default swaps, this time he used the good old put options on 800,100 Tesla shares, or $534 million.
The final straw that pushed Burry to take this step was Tesla's dependence on regulatory loans for profit. While a couple of years ago this fact could be overlooked, now that more and more automakers are producing their own electric vehicles, fewer companies need to acquire environmental regulatory credits from Tesla in order to comply with environmental regulations. This means that Tesla's financial position becomes extremely vulnerable.
The International Energy Agency (IEA) recently shared its strategic vision of the oil market. It was noted that the world needs to immediately stop developing new oil and gas fields in order to be able to achieve zero emissions by 2050. At the same time, by 2030, electric vehicles should make up 60% of the world fleet. What does this mean for oil prices? According to the IEA, oil prices should fall to $25 per barrel by mid-century.
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