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    TSLA   US88160R1014

TESLA, INC.

(TSLA)
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Dollar broadly weaker after U.S. jobs data disappoint

05/07/2021 | 02:47pm EDT

* Nonfarm payrolls rose by 266,000 jobs vs forecast of 978,000

* Dollar broadly lower

* MSCI EM currency index hits record high

* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E

NEW YORK, May 7 (Reuters) - The dollar fell to its lowest in more than two months on Friday after U.S. jobs data for April came in well below expectations, putting a damper on hopes that a roaring economic recovery would spur higher rates and light a fire under the greenback.

Nonfarm payrolls increased by only 266,000 jobs last month after rising by 770,000 in March, the Labor Department said in its closely watched employment report. Economists polled by Reuters had forecast a rise of 978,000 jobs.

"The number was so out of consensus, that I think the market expectation of super-high rates and a squeeze on inflation is going to go down by the wayside, and that obviously means more liquidity from the Fed," said Boris Schlossberg, managing director of FX strategy at BK Asset Management.

It also means U.S. interest rates will stay at ultra-low levels for quite a while and that is going to keep the pressure on the dollar, Schlossberg added.

The dollar was down 0.63% at 90.297 against a basket of major currencies, having dropped as low as 90.209, its lowest since Feb. 26, following the payrolls data.

The euro was up 0.75% against the greenback at $1.21555 and the British pound was up 0.73% at $1.3993 .

"This is only one report, but this is changing many traders' thinking on how this recovery is unfolding," said Edward Moya, senior market analyst at FX broker OANDA, in New York.

Elsewhere, China's exports unexpectedly accelerated in April and import growth hit a decade high, helping to push the yuan and Asian stocks higher.

China's yuan rose to a more than two-month high versus the dollar and was set for its longest weekly winning streak since September, helped by the strong trade data and softer dollar.

The MSCI emerging market currency index hit a record high of 1741.34 on Friday, lifted by gains in the Chinese yuan and the weaker greenback.

Emerging market currencies were also benefiting from the "commodity supercycle", said Simon Harvey, FX analyst at Monex Europe.

Commodity-linked currencies were higher, with the exception of the Canadian dollar, which was near flat at 1.21505 to the U.S. dollar, following a worse-than-expected Canada jobs report for April due to a third wave of COVID-19 lockdowns. The loonie had surged on Thursday to its strongest in more than three years .

The Australian dollar was up 0.72% versus the U.S. dollar, at 0.7841. The Aussie has been supported by a strong rally in the prices of Australia's top export earner, iron ore.

"We expect the likes of AUD, CAD and NOK to remain well supported with the backdrop for positive optimism over global growth still quite favourable", MUFG head of research Derek Halpenny wrote in a note, referring to the Australian and Canadian dollars and Norwegian crown.

In cryptocurrencies, ether rose 1.35% to $3,537.29, after hitting an all-time high on Thursday.

Bitcoin was up 2.98%, at $58,128.86.

Meme-based virtual currency Dogecoin, which began as a satirical critique of 2013's cryptocurrency frenzy, was up 4.49% at $0.6107, ahead of an appearance by Tesla Inc Chief Executive Officer, Elon Musk on Saturday Night Live this weekend.

Musk's tweets about Dogecoin in the past have helped send the digital currency, which is up more than 14,000% this year alone, skyward.

"Post-SNL, some crypto traders could abandon short-term Dogecoin bets once it becomes clear that it is not skyrocketing to the moon or at the heavily eyed $1 level," said OANDA's Moya.

(Reporting by John McCrank in New York; additional reporting by Elizabeth Howcroft in London; Editing by Steve Orlofsky and Emelia Sithole-Matarise)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / BRITISH POUND (AUD/GBP) 0.06% 0.54606 Delayed Quote.-2.81%
AUSTRALIAN DOLLAR / CANADIAN DOLLAR (AUD/CAD) 0.19% 0.93834 Delayed Quote.-4.28%
AUSTRALIAN DOLLAR / EURO (AUD/EUR) 0.21% 0.63498 Delayed Quote.0.99%
AUSTRALIAN DOLLAR / JAPANESE YEN (AUD/JPY) 0.11% 84.668 Delayed Quote.6.88%
AUSTRALIAN DOLLAR / NEW ZEALAND DOLLAR (AUD/NZD) -0.03% 1.07831 Delayed Quote.0.84%
AUSTRALIAN DOLLAR / SWISS FRANC (AUD/CHF) 0.19% 0.69151 Delayed Quote.1.87%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.23% 0.77017 Delayed Quote.0.23%
BITCOIN - EURO -0.73% 33021.07 Real-time Quote.41.54%
BITCOIN - UNITED STATES DOLLAR -0.78% 40021.37 Real-time Quote.40.28%
BRITISH POUND / AUSTRALIAN DOLLAR (GBP/AUD) -0.06% 1.83038 Delayed Quote.3.04%
BRITISH POUND / CANADIAN DOLLAR (GBP/CAD) 0.16% 1.71759 Delayed Quote.-1.43%
BRITISH POUND / EURO (GBP/EUR) 0.15% 1.16265 Delayed Quote.4.01%
BRITISH POUND / US DOLLAR (GBP/USD) 0.17% 1.41018 Delayed Quote.3.18%
CANADIAN DOLLAR / AUSTRALIAN DOLLAR (CAD/AUD) -0.25% 1.065655 Delayed Quote.4.46%
CANADIAN DOLLAR / BRITISH POUND (CAD/GBP) -0.14% 0.582076 Delayed Quote.1.44%
CANADIAN DOLLAR / EURO (CAD/EUR) 0.01% 0.676911 Delayed Quote.5.56%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) -0.09% 90.251 Delayed Quote.11.72%
CANADIAN DOLLAR / SWISS FRANC (CAD/CHF) 0.01% 0.73705 Delayed Quote.6.61%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.04% 0.82074 Delayed Quote.4.87%
EURO / AUSTRALIAN DOLLAR (EUR/AUD) -0.20% 1.57434 Delayed Quote.-0.94%
EURO / BRITISH POUND (EUR/GBP) -0.13% 0.85981 Delayed Quote.-3.83%
EURO / CANADIAN DOLLAR (EUR/CAD) 0.00% 1.47694 Delayed Quote.-5.27%
EURO / US DOLLAR (EUR/USD) 0.03% 1.21279 Delayed Quote.-0.77%
INDIAN RUPEE / AUSTRALIAN DOLLAR (INR/AUD) -0.26% 0.017698 Delayed Quote.-0.44%
INDIAN RUPEE / BRITISH POUND (INR/GBP) -0.25% 0.009658 Delayed Quote.-3.30%
INDIAN RUPEE / EURO (INR/EUR) -0.04% 0.011241 Delayed Quote.0.58%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.01% 0.013635 Delayed Quote.-0.20%
NEW ZEALAND DOLLAR / CANADIAN DOLLAR (NZD/CAD) 0.24% 0.86945 Delayed Quote.-5.04%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.23% 0.7139 Delayed Quote.-0.51%
TESLA, INC. -2.97% 599.36 Delayed Quote.-15.07%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.10% 6.39737 Delayed Quote.-1.40%
US DOLLAR / AUSTRALIAN DOLLAR (USD/AUD) -0.25% 1.298196 Delayed Quote.-0.21%
US DOLLAR / BRITISH POUND (USD/GBP) -0.18% 0.709044 Delayed Quote.-3.09%
US DOLLAR / CANADIAN DOLLAR (USD/CAD) -0.03% 1.21796 Delayed Quote.-4.63%
US DOLLAR / EURO (USD/EUR) -0.03% 0.824593 Delayed Quote.0.77%
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Financials (USD)
Sales 2021 49 399 M - -
Net income 2021 3 430 M - -
Net cash 2021 8 942 M - -
P/E ratio 2021 191x
Yield 2021 -
Capitalization 577 B 577 B -
EV / Sales 2021 11,5x
EV / Sales 2022 8,43x
Nbr of Employees 70 757
Free-Float 80,4%
Chart TESLA, INC.
Duration : Period :
Tesla, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends TESLA, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 35
Average target price 654,03 $
Last Close Price 599,36 $
Spread / Highest target 100%
Spread / Average Target 9,12%
Spread / Lowest Target -75,0%
EPS Revisions
Managers and Directors
NameTitle
Elon Reeve Musk Technoking of Tesla
Zachary J. Kirkhorn Master of Coin
Robyn M. Denholm Chairman
Ira M. Ehrenpreis Independent Director
Antonio J. Gracias Independent Director
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