Source sores soars. Australian markets have just open for trade. Lets turn to sophie for what to watch. Sophie its hitting the Snooze Button with markets little changed to the downside. Aussie dollar just retreating a touch. We are also keeping an eye on what is happening with the u. K. Election taking place thursday and india very much focused as we get Health Checks on the economy. We are also waiting on japanese machine orders. We have singapore on the docket as well. Paul thanks very much. Lets check in on first word news with ritika gupta. Ritika the u. K. Vote later thursday in an election that will define its relationship with the eu for years to come. Brexit has been the central issue in the campaign with Prime Minister Boris Johnson insisting the contingency board will only happen quickly if the conservatives turn a strong victory. Uncertainty surrounding brexit has led to eu leaders hoping for a johnson win so the negotiations can come to an end. We will have special extended
Shery and a rocky road ahead for china. The worlds top auto market heads for an unprecedented second Straight Year of failed declines. Comingnd south korea online. Here is what to watch. Sophie stocks open higher with nikkei and topics opening with two. 2 . Data earlier this week showing a pickup in business spending and reduced prices. The yen looking steady after jay powells speech which reinforced the dollar has a negative bias. Which assets will benefit most from the feds 2020 outlook . We will check in on the open in seoul. 7 . Ospi up we have aussie shares moving to the downside with a risk on move this morning. Futures are also gaining ground. It lets check in on currencies this morning. The aussie dollar bumping its timeagain for a sixth moving below 68. 80. And the british pound back up above 132 above 1. 32. More on u. K. Politics now, heres a check of first word news. U. K. Votes later thursday in an election that will defined the relationship with the eu for years to come.
The annual earnings forecast falls short. Shery lets get a quick check of the markets close. The s p 500 fell the most since may 31. The 10 year yield fell below 2 . It was already a shaky day when he came to the equity markets. Rising geopolitical tensions between the u. S. And iran, not to mention a drop in Consumer Confidence as well as numbers that dampened investor sentiment. In you have the fed chair Jerome Powell and the st. Louis fed speaking, investors did not like what they heard, saying a july rate cut should be limited. We saw every sector on the s p 500 in the red, tech and communication stocks leading the decline. Gold jumping the most in six years, not to mention the yen also rallying. U. S. Futures at the moment really not doing much. Lets see how we are setting up for asia. Asian futures appointing lower, going into it the session. It may complicate u. S. Secretary of state pompeos visit to india this week. In new zealand, kiwi stocks trading flat, halting a sevenday a
China. The administration is demanding meaningful reforms. Stockpiles continue to shrink. This could lead to rising tension in the gulf. Shery a quick check of the market close. We saw the s p 500 for the most since may. It was already a pretty fragile session for the market. Tensions. Opolitical then we heard from Jerome Powell and also the st. Louis fed president. Investors did not like what they heard. Check and communication stocks are leading the decline. We are also seeing the nasdaq down 1. 5 . U. S. Futures are not doing much. Lets see how the markets are shaping up. Sophie were looking at a tenuous beginning. These are nudging higher. The yen is looking study. Study. Eady. Steady. Goldman is seeing the silver lining, raising korea and taiwan to market rate. Australia onowered Bank Earnings risks. Stocks are nudging higher. This is head of the argan decision. We are seeing 10 year yield holding steady. The goal rally is taking a bit of a breather. Paul lets check on the first w