There we have active futures on the s p up by. 5 . Nasdaq as well. Just seeing what is likely to happen with the start of the indian session and about one hour and 44 minutes. Nifty gaining about. 2 wednesday, looking like we are adding to it. Have some news as well. There were fears among bond traders bond that could have played havoc on the bond markets. That is the yen. We have the pound which has been emerging as a strong currency against its u. S. Counterpart as we get brexit negotiations taking place and certainly it is the way the u. K. And European Union come to an agreement as to what happens after the u. K. Officially leaves the European Union. Seeing some progress with regards to all that. Haslinda lets get the first word headlines for you. President trump signed an executive order to expand u. S. Production of Rare Earth Materials. Amid concerns that Global Leader china they restrict exports. They are used in a vast range of goods. China accounted for 80 of americas imports
Still a dollars story. Bloomberg dollar index looking like the u. S. Dollar is steady in the last 12 hours, but on course for potentially its worse july in a decade. The dollar index is flat essentially. U. S. Dollar, yes, i want to focus on this because 103. 50 is a key line. Modest upside for the u. S. Dollar. Japan downgraded from fitch to negative outlook. But you could see further upside. 103. 50 is a line to watch. In terms of offshore currency in the mainland, or in china, 7. 0 is what we are looking at. The euro is modestly stronger against the u. S. Dollar. Gold and silver and the yield story in the u. S. , gold started to modestly moderate. At. 6 is what we are looking silver also taking a bit of profit. Basiseld story, just 14 points for the twoyear and under 60 for the 10 year. We will see what jay powell says on whether yield control is a discussion they are ready to bring forward for the fed. A look atets have what is going on first word news wise as we look at the u. S.
We will break that down later on. Take a look at the rest of the market. You see caution still. The likes of gold, despite the rebound in stocks, gold topped at 1800 for the First Time Since 2011. Theres caution around a resurgence of cases. We have the situation in hong kong with china and acting sweeping powers. Goldman saying we could see 2000 for gold in the next 12 months or so. Extending theg best performance we have seen in 30 years. Money coming off of the dollar here, more of quarter selling and rebalancing. A little bit of strength in the yen. Offshore renminbi gaining at 705. Take a look at the nikkei. A survey cannot very negative. Manufacturing sentiment dropping to the lowest level since 2009. China seeing shares up 6 10 of 1 . The pboc said to Lower Borrowing costs for small businesses. Perhaps anticipating a rate cut today. Watching bonds. Treasuries did tumble. They continue. 68 basis points. Lets get to our top story now. Hong kong marking 23 years of chinese role hou
Hiring fluctuations. The raw number was 3. 5 million Cnns Jim Acosta report. Okay, thank you very much hysteria what is shaping up to be the worst us economy since the great depression, President Trump said he has a feel for what americans are going through i feel that i think sometimes what i feel is better than what i think i view what we have now is obviously a period of. In here we are just it is what it its just a very tough situation for the people of our country. All the loss the death. Nearly 4 million americans filed unemployment claims last week making for a staggering 30 million over the last 6 Weeks White House economic adviser Kevin Hassett said the numbers havent been this bad since the great depression. The fact is that right now you know 30 Million People have while for unemployment insurance. The Unemployment Rate is probably up around 19 and those numbers are startling as anything weve seen since the great depression. The president has been lashing out at age in recen
Lets take a look at what is been helping foment further gains across the asiapacific. That is the futures contract for the s p up to tens, hang seng three tens of 1 . And the nikkei has buoyed a bit. Also the topix doing rather well. We have a cna a tad week. Looking at that as we do. Also the yen, and the boj. 41 day since the boj came in and bought a sizable chunk of stocks in the japanese market. Someat stealth tapering, people are arguing because the yield on the 10 years unchanged. The yield has been lurching lower eight basis points. Weekhas been put less a and see what is going on in regard to the haven stages. The learn not willing to look at and take on risk right now. This is of course after the Election Results or we saw the landslide victory when it comes to democratic camp. She was talking about how she is ready to listen and stands by previous stances on protest demands. People who felt that our government has not handled, deadly the legislative exercise and its aftermath