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market review 04 June 21

04 June 21

Dollar Gains After Strong Economic Data; Payrolls Loom Large

The dollar climbed in early European trade Friday, reaching multi-week highs after a spate of strong economic data ahead of the monthly payrolls release raised the possibility of early Federal Reserve tightening.
At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was up 0.1% at 90.605, reaching a new three-week high.
EUR/USD traded 0.1% lower at 1.2113, also a three-week low, while USD/JPY edged lower to 110.26. GBP/USD fell 0.1% to 1.4095, sharply below the three-year high of 1.4250 reached Tuesday, and the risk-sensitive AUD/USD was down 0.1% at 0.7653, after falling to its lowest since mid-April overnight.
The dollar has been under pressure for much of 2021 as traders have reacted to ultra-easy Fed policies, and the suggestions that these would stay in place for some time. However, this narrative is starting to change as the U.S. economic rebound gains in strength, throwing up the possibility of it driving policy tightening.

https://www.investing.com/news/forex-news/dollar-gains-after-strong-economic-data-payrolls-loom-large-2523297

https://www.investing.com/currencies/eur-usd-chart

Apple working on iPad Pro with wireless charging, new iPad Mini – Bloomberg News

Apple Inc (NASDAQ:AAPL) is working on a new iPad Pro with wireless charging and a redesigned iPad Mini in an attempt to build upon momentum for a category that saw improved sales during the pandemic, Bloomberg News reported on Friday.
The company is looking to release the new iPad Pro in 2022 and the iPad Mini later this year, the report said https://bloom.bg/3g6Xq8D, citing people familiar with the matter.
The iPhone maker thrived through the COVID-19 pandemic as home-bound consumers stocked up on electronic devices, with iPad sales notching a better-than-expected $7.8 billion last quarter.
The company is planning narrower screen borders for the new iPad Mini and also looking at removing its home button, according to the report.
Apple is testing a glass back for the iPad Pro to enable wireless charging for the first time and also attempting to try out reverse wireless charging, Bloomberg News said.

https://www.investing.com/news/stock-market-news/apple-working-on-ipad-pro-with-wireless-charging-new-ipad-mini–bloomberg-news-2523291

https://www.investing.com/equities/apple-computer-inc-chart

Musk ‘trolling’ puts brakes on bitcoin’s rebound

Bitcoin slipped 4% on Friday after Tesla (NASDAQ:TSLA) boss Elon Musk was at it again – this time firing off a few tweets that appeared to lament a breakup with the cryptocurrency.
Tesla’s big position in bitcoin and Musk’s large personal following often set crypto markets on edge whenever he tweets, and the price fell after he posted “#Bitcoin”, a broken-heart emoji and a picture of a couple discussing a breakup.
Musk followed that up by posting a breakup comic strip and replying “nice” to an illustration of rival crypto dogecoin posted by crypto exchange Coinbase. It was unclear what, if anything, any of the tweets meant.
Musk has previously said Tesla would not sell its bitcoin, but his tweets were enough to unsettle markets still fragile following May’s crash.
“He’s trolling the community,” said Bobby Ong, co-founder of crypto data aggregator and analytics website CoinGecko.

https://www.investing.com/news/forex-news/musk-tweet-dents-bitcoin-but-weekly-gain-in-prospect-2523229

https://www.investing.com/equities/apple-computer-inc-chart

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