Weekly news summary for April 2 to 8 ,2021
Friday, April 2, 2021: Tesla Reports Better Delivery Figures for Q1
US electric vehicle (EV) giant Tesla Inc. reported on Friday better-than-expected delivery figures for the first quarter, as solid demand for its cheaper models compensated for the global parts shortages.
Data from Refinitiv showed that Tesla delivered 184,000 vehicles worldwide in the January-March period, beating forecasts of 177,822 and last quarter’s record of 180,570 vehicles.
Monday, April 5, 2021: Crypto Market Value Hits $2T for the First Time
The cryptocurrency market value reached an all-time high of $2 trillion on Monday, finding support on Ripple’s 35% gain, which led it to register its highest in over three years.
The Ether, whose Ethereum blockchain is at the core of a growing network of decentralized (DeFi) projects and adoptions, was also up more than 3% to an all-time high.
Tuesday, April 6, 2021: Credit Suisse Execs to Leave after Archegos’ Fall
Swiss investment bank Credit Suisse Group announced on Tuesday the departures of its investment bank CEO Brian Chin and chief risk officer Lara Warner and plans to trim dividends as it evaluated losses from Archegos Capital Management’s fall last month.
Credit Suisse said it expects to register a pre-tax loss of 900 million Swiss francs ($960.4 million) in the first quarter, after taking a 4.4-billion Swiss francs writedown due to Archegos Capital’s collapse, adding that it would cut dividends and pause share buybacks.
Wednesday, April. 7, 2021: Rupee Hits Four-month Low after RBI Cuts CRR
The Indian rupee dropped to its lowest in four months on Wednesday after the Reserve Bank of India (RBI) cut its cash reserve ratio (CRR) at its latest policy meeting, a decision that is similar to a moderate easing of monetary guidelines.
India’s central bank maintained the benchmark interest rates at 4%, despite the county’s inflation making another increase in March to more than 5%.
Thursday, April 8, 2021: US Dollar Trades Near Two-week Lows
The US dollar weakened near more than two-week lows against other major currencies on Thursday amid lower Treasury yields, after minutes of the Federal Reserve’s recent policy meeting offered no new means to provide market direction.
The US dollar index dropped 0.22% to 92.252 against a basket of six major currencies after falling as low as 92.134 on Wednesday for the first time since Mar. 23.
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