Has come out to say that it will try to encourage more investment to boost growth. Encouragement for investors at this point. Turn the pages, taking a look at where the currencies are. The pound is in focus. After whate support inspired overnight. Crude at 54. 19. Never mind that the public is looking pretty dim. Gold is getting support. Perhaps it will get to 1600. Athaad lets have a look what is likely to happen in india. Steep losses could add to the losses we have seen in the last few days. We are looking at a decline. When things get underway in about 43 minutes from now. The 10 year yields, not seeing that Much Movement were looking at the shadow banking crisis. Looking at the 10year yields. 6. 52 . Hittinge, at one stage 72. That is the weakest level we have had all year for the indian currency. We have come off those lows and we are trading. Lets find out what is happening trade wise. President trumps warning china that trade talks will take a new tone after the 2020 president
We saw was escalation of the trade war with the latest move being china fixing above seven last night. That is trading at 7. 10 now usdcnh. For adding to the downside, it is the internet and Home Entertainment index in the s p 500, the worst performing group right now. Electronic arts, take two interactive, and Activision Blizzard after the president talked about reframing violence in society, specifically encz and video games as part of the problem specifically mentioning videogames as part of the problem that led to the mass shooting over the weekend. He also condemned white super messy for the first time. The tenured you White Supremacy for the first time. At 1. 77. Ar yield guy lets get back to the china story. China letting its currency go through seven to the u. S. Dollar. Thats a big line in the sand. Has been for a long time. The chinese have never really gone there, not since 2008, and certainly not in the duration of this trade war. However, that has now happened. Spring in h
Euros. Oil prices climb amid mounting tensions between the u. S. And iran as washington ratchets up economic pressure with major new sanctions and President Trump tells nbc news he never threatened to demote fed chair Jerome Powell but claims he has the power to do so if he wants. I have the power to do so. Thats not a threat just a reminder that you can. I have the right to do that but i havent said that. What hes done is 50 billion a nont quantitative tightening, its ridiculous. Well, good morning and happy monday, everybody. To kick off the week were getting german data out. So lets break that down for you. The june efo survey german business moral has fallen in june the Business Climate index came in slightly higher than expectations at 97. 4 versus the forecast of 97. 2 however the execations index come in at 94. 2 versus forecast of 94. 5. Little lower on expectations current condition index risen to 100. 8 in june versus forecast of 100. 2. On forward looking indicators sentimen
Your equity market right now, totally unchanged on the s p 500. If youre worried about the dates are, do not report it. If youre worried about the market, then sell a depreciate latest news out of china, we have seen these headlines before. Chinese authorities ask you Investment Funds to avoid being net seller of equities. If you do not trade to come if you did not report it, then it is not happen and the answer is at least around the world, especially given the data they have been reporting consistently has been worse than expected so then i guess, in absence of it, people think it is gotten better. Jonathan expectations on wall street around growth on china has changed. Jp morgan had a forecast growth of gdp a 6. 4 this year. This been cut to 4. 8 percent, four handle for a six handle in a number of months. Lisa there are signs peoples bank of china are starting to respond but it is not clear what they can do to generate confidence. I want to go back to the idea that they are not rep
Haidi welcome to daybreak australia. I am haidi stroudwatts in sydney where markets have just come online. Annabelle i am Annabelle Droulers in hong kong and we are counting down to asias major market opens and the top stories this hour. Wall street shrugs of another harder than expected u. S. Inflation reading, the data doing little to alter bets that the fed will cut rates this year. Haidi japan is set to unveil which negotiations. Annabelle australias Wine Industry is cautiously optimistic amid reports that china has proposed lifting tariffs on the countrys wine. Kicking off with some breaking data, south korea releasing its jobless figures for the month of february. That reading has come in lower than what economists had been expecting. The reading is 2. 6 . We are below the postpandemic averageyear of 3. 3 sort of seen as the National Rate of unemployment at least by, our Bloomberg Economics team. Importantly, the reading of 2. 6 is below the average for economists and even the ra