But huge differences remain as the us, canada and mexico try to hold together one of the worlds biggest free trade zones. And russias Biggest Oil Company is leading a 13 billion deal which will secure it thousands of petrol stations across india. Hello and a very warm while on to World Business report, wherever you are watching. I am ben bland. The us, canada and mexico have finished their first round of talks to overhaul north Americas Free trade deal, nafta. It follows president trumps threats to scrap the pact, saying its been a disaster for us workers. The countries have pledged to reach an agreement by early next year, but some trade experts have warned the timetable is just too tight. There are huge challenges ahead. The us says it wants new measures to make sure a substantial proportion of vehicles covered by the deal are made in america. At the momentjust over 62 of each vehicle must come from one of the three countries but reports suggest the us hasnt yet revealed how it wants
All right, a lot of news to kick off with. That the week that investors will focus on. Not a lot of Economic Data in the u. S. This week to drive markets. Everything from washington to , listening to what janet yellen has to say about Interest Rate hikes going forward. Lot of focus on Balance Sheet reduction, but also a recognition among fed and the and president s fed chief herself that inflation will remain low going forward. We continue to watch fed fund futures. Is what we are seeing when it comes to a possible rate hike for december. It has come down a bit from the fed minutes last week. The topic will be Financial Stability in wyoming. Any thing from janet yellen that could send a hawkish signal. Mario draghi more than janet yellen, reports that he is not planning any surprises, but he may talk down the euro. He has had a tough time with a lower dollar. That is complicating matters. A reminder for viewers on how markets closed friday, another day of jitters, but not as much. When
Wargames start this trading week , a few jitters, a mixed the session, msci asiapacific nding declines from friday extending declines from friday. The palace intrigue, steve bannon returning to breitbart, the latest in high profile departures from the Trump Administration. Macrolike when it comes to asia and globally, but 54 or the eight, local Central Banks are what we are watching, culminating a week of fed speak from janet yellen and mario draghi in frankfurt this week ending up in wyoming, jackson hole, the central bank meeting, expect ring a cautious mario his comments about the Balance Sheet about Interest Rates and inflation taken wildly by the markets this year, but not expecting a massive policy surge from him, but there could be comments on how the stronger on inflationing expectations, and listening for Janet Yellens comments, guidance when it comes to the richer directory and talents sheet unwind. The ecb, not expecting shock and all from mario draghi. 2014 had him using ja
Raise 2 billion. Haidi haidi Oil Producers considering extending cuts. Six nations say more time is needed to train the global glut. Rishaad China Southern confirming a stake sale with American Airlines worth 200 million. Suspended butock should resume when the session gets underway. , thatlooking at kaisa forerty developer suspended two years will resume trading. So a lot to look for two in the session ahead. Haidi absolutely. We are seeing a risk off session so far to kickoff the trading day. Lookof fence the two forward to, janet yellen speaking on tuesday, and as you said, hope springs eternal. Aroundd get more color this Monetary Policy trajectory out of the u. S. Given disappointment and concern over President Trumps Political Capital and ability to push through these tax progrowth policies. We are 30 minutes away from that open. Lets get it over to sophie with a look at the markets. What a great way to start off the week in asia. Sophie risk off this monday. We do have singapore
Yousef it is a 4 00 a. M. In london, this is Bloomberg Markets middle east. It is midday in hong kong. We are seeing some markets in the red. Take a look at the go function. Although markets are in the red, we have some strong players. With forceming back from its today holiday. Yuanouth korean won declining. Were seeing a pretty good session or strength for price on time. The taiwan dollar continues to rise. The japanese yen has climbed for four days against the dollar. We are seeing copper following 8 10 of 1 . Keep an eye on jp morgan and goldman sachs. That is the picture in asia in trading. What do you have for us . Yousef as part of the world, a twohour delay on the emirates markets. This was the state of play. The benchmark index up half of 1 . Were seeing strength in materials and industrials. As we got best performer in this part of the world. If you take a look at the technical, that broke through three moving averages in one goal. Also watch out for first abu dhabi bank, dri