Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
FTSE 100 heads south
On Friday, British blue-chip equities went down, getting back to negative territory after American leader Donald Trump told that he was geared up towards slapping duties on some $500 billion in China’s imports, potentially boosting his administration’s trade clash with the officials, who run the world’s number two economy.
The FTSE 100 index UKX edged down by 0.1% being worth 7,678.79. By the way, on Thursday, the index managed to ascend by 0.1%.
The currency pair GBP/USD hit $1.3105, reviving from an intraday minimum of $1.2995. On Thursday, the British pound dived below $1.30 getting to its lowest value versus the evergreen buck since early September.
The currency pair GBP/EUR gained 0.19% hitting €1.1201 versus Thursday’s outcome of €1.1178.
On Friday, Donald Trump dared to have China accused of manipulating its Yuan. The matter is that the weaker Chinese currency makes Chian’s products more competitive.
The European Union, China as well as other nations have been manipulating their currencies and also interest rates lower. Meanwhile, the Fed has been increasing its rates, thus backing the evergreen buck over and over again.
The FTSE 100 had leapt, underpinned by weakness in the UK currency versus the evergreen buck, although the greenback started losing more ground following Trump’s latest threat of more duties.
A lower value of the British currency can assist in raising the FTSE 100 due to the fact that a great number of multinational companies listed on the index make most of their sales in other assets.
The British currency had been forced to tumble to 10-month minimum following gloomy retail sales data on Thursday affected expectations that the Bank of England is going to have the benchmark interest rate raised from 0.5% at its gathering on August 2.
The equities of Glencore PLC GLEN slumped by 1.6%.
Richard Branson offloaded nearly 10 million shares, which equals about 4% of the Virgin Galactic stock, leaving him with an 18% stake.
Today at 00:00 GMT+3 SPCE will present the second quarter 2021 financial results. We will get to know everything about the company's financial condition and plans.
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).