Spreadex Market Update
Euro stays below weekly highs, Musk’s mission to link computers with the brain
Today’s trading has seen the euro inch slightly higher; however, it remains nearly a cent lower from its weekly high against the US dollar.
There didn’t appear to be any reaction from the markets to the terrorist attack in Paris last night with the EUR/USD currency pair currently trading around the $1.07 mark.
Investors are no doubt preparing for Sunday’s election where it is thought that while right wing candidate Marine Le Pen will most likely win enough votes to make it to the second round of voting, she will then be comfortably beaten in the second round, with centrist candidate Emmanuel Macron the likely winner at the moment.
If this is the case, expect to see a bullish market in early trading next week. This sentiment is backed by Mark Dowding, partner at BlueBay Asset Management in London, who was quoted as saying, "On the assumption that the French election will provide a market-friendly winner, we believe that euro zone assets may be poised to rally strongly in the next few weeks as political risk declines”.
However, it goes without saying that any election poll must now be taken with a very healthy portion of salt!
In other news, Tesla founder Elon Musk has indicated he is working to create a link between a machine interface and the human brain. This will be worked on by his latest company, Neuralink, whose aim it is to develop a micron sized device that will provide a direct link between computers and the neurones in our brain.
Musk’s thinking is that eventually artificial intelligence will become so advanced that we will need devices such as the one proposed by Neuralink just to keep up; a scary thought indeed!
The Wall Street Journal reported the launch of the “medical research” company last month claiming Musk will mainly fund it himself. Nevertheless, this could change in the future and so is definitely one to keep an eye on.
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