It is a bank holiday. A lot of the data in the u. K. Closed. The ftse is not trading today. I still want to give you a quick snapshot of whats happening across europe without the ftse 100. It is down some 0. 4 . Dollareuro is the one im keeping an eye on for the week. Maria draghi, the ecb president , refrained from talking down the euro. This is what im looking at. Im looking at dollar. Kuroda,peak to governor a fantastic interview by Kathleen Hays. Crude oil, 47. 43. We are seeing a Little Movement for gasoline prices. It could also impact the oil prices. Lets get to the bloomberg first word news. Heres nejra cehic. Nejra in the u. S. , houston is battling unprecedented rainfall following the biggest storm in the history of texas. The down for has crippled the core of the u. S. Energy industry. Gasoline has surged to the highest in two years. The president of the cleveland fed urged her colleagues to look past recent inflation data and stick to their gradual pace of lifting Interest
Market impact on Hurricane Harvey. 5 , the futures up highest level in two years. Texas is the largest cotton producer in the u. S. The next two indexes are interesting as far as what is being mortgagebacked, products or production. The higher this goes, the tighter we see the Product Market. The second is the vti versus signifying more production in the u. S. , meaning lower as it comes down. In texas, floodwaters overwhelm houston as Tropical Storm harvey inundatess texas, southeastern texas. Us is our commodities managing editor. In terms of the houston damage, this is unprecedented. If you are familiar with houston, this is a place that tends not to take water terribly well. In terms of the industry itself, we are starting to see refineries shut down as the storm moves west to east. Alix as far as the refineries shutting down and crude reduction, that is well known in the market. What is not talked about as much is how important crude exports are two men support. To mexico. They ha
Been downgraded to a Tropical Storm. It came ashore late friday northeast of Corpus Christi as a category four hurricane. It has caused catastrophic flooding in texas. A lot of people are frustrated and dont understand why we are seeing trucks unfortunately, those trucks can only go so far. And hopefully today, we will get to the rest of you. Up on us. t give none of us are going to give up. Mark the houston mayor added that nearly 6000 people have moved into city shelters. Major airports out texas in south texas has reopened. Corpus Christi International today. Service harvey made land for as a category four hurricane late friday 30 miles away. Two other major airports in the region, george bush intercontinental and houston Hobby Airport have been closed since midday sunday. Taxes wont be the only state suffering from the storm. Texas wont be the only state suffering from the storm. Louisiana could get 20 inches of rain in the southern part of the state. Aesident trump has declared st
Houston and other parts of texas will worsen in the coming days and then be slow to reseed. Additional 20an inches of rain could fall in the coming days on two of more than 30 on top of rather more than 30 inches, some areas have received. The acting Homeland Security secretary tells bloomberg it is too early to predict cost estimates on the toll of devastation caused by harvey. She outlined in media priorities for the department. No preliminary estimates at this time. At this point, we are doing what the president asked us to do and said people first, and paperwork later. We are looking at searchandrescue. Secretary duke says officials expect floodwaters to peak thursday, at least 30,000 people are in official shelters, thousands more have and displays. Officials released more water from houston was a bars houston reservoirs. Say ancy officials controlled release could cause additional street flooding, but if steps for not taken, rising water levels and rain could cause the dams to br
The president for banning transgender citizens were serving in the military. Violates the equal protection clause of the constitution. President trump has given the pentagon six months to return to the previous policy that barred transgender soldiers. British Prime Minister theresa may is under pressure on two fronts as brexit talks resume. Eu negotiators want her to reveal her hand. The Opposition Labor Party is trying to lure her critics to its side. In theushing to keep Single Market for the longterm transition. A mysterious chemical haze that left more than 100 people in the english coast with burning eyes and breathing problems has dissipated, but the cause remains a mystery. The gas cloud appeared on sunday, sending people fleeing from the beach 60 miles south of london. Global news 24 hours a day powered by our 2700 journalists and analysts in more than 120 countries. Im mark crumpton. This is bloomberg. Julia live from bloomberg World Headquarters in new york, im julia chatterl