Assessment of Global Energy demand. Saudi arabia is cutting output to the lowest level since 2002. As mentioned, we are looking at the start of the trading session. Thats get over to Sophie Kamaruddin in hong kong. We are expecting moves to the downside. U. S. Futures holding onto a three day decline in kiwi stocks. The index is off by about. 33 and markets are priced in new zealand to join the negative rate club. Amid calls for more stimulus around the world, we are waiting to see if china will cut the rate for the third time this year as the country grapples with a week start and millions of unemployed. Emerging from lockdown, the global stock rallies are sputtering. Risk is wave infection being weighed alongside the threat of business failures and job losses becoming permanent. Beyond that, the aussie dollar is bearish and ahead of the april jobs report. It is seen with a deeper impact. President trump says fed chairman jay powell is doing a good job but disagrees with him on negati
Change your nappies and feed you and be the you and put you to bed well i think were in that bit of the cycle with the u. S. Dollar remember the petrodollar was conceived in the 1950 s. But really born in 1981 when nixon took us off the Gold Standard and weve come full circle because remember in the 1970 s. We had the oil embargo wars in the early days of this petro dollar being a full you know u. S. Dollar backed global currency grid and here we have a special report trump told saudis cut oil supply or lose u. S. Military support so apparently in an april 2nd phone call trump told Saudi Crown Prince mohammed bin solomon that unless the organization of the Petroleum Exporting countries opec started cutting off Oil Production he would be powerless to stop lawmakers from passing legislation to withdraw u. S. Troops in the kingdom for sources familiar say yeah well i dont really understand us all saudi relationship anymore you know i mean why are we why do we have troops there and saudi a
Weve had a pretty eventful 36 hours. The price of oil, we look at the mechanisms that led to that. We will look at markets. We had an interesting note on the pound. Brexit has taken a little bit of a back step with so much, the lockdown. Yesterday was the first day of talks resuming on brexit between e. U. U. K. And e. U. , the saying they will not extend the transition period. We begin this busy newsday with wti true crude again below 0 dollars a barrel, recovering from yesterdays wipeout which saw plunges in new york of up to 41 a barrel, the first time they have gone negative in history. The june Contract Trading above 20, spread reflecting growing concern over shortage of storage space. The u. S. Has information north Korean Leader kim jongun was in Critical Condition after surgery last week, according to an official. His current status is not known. The Trump Administration seeking more details. South korean Officials Say kim is conducting normal business. President donald trump s
Money yes concerts are cancelled and Live Performances stay down. Im sumi so much going to thank you for joining us the southern german state of bavaria has canceled the october fast beer festival because of the corona virus the event attracts more than 6000000. 00 visitors every year and authorities fear it allowing it to go ahead would lead to a spike in infections as we report the move is likely to take both a financial and emotional toll. No crowded party tents giant mugs of beer or packed out parades. Germanys biggest festival has been cancelled for the 1st time since world war 2. Large events are currently banned in germany until the end of august october 1st was supposed to start on september 19th but Officials Say the risk of infection during the coronavirus pandemic is just too high. 2 it is painful for us it is a great pity but as with many things this is not a normal year and this is certainly going to be a year without the festival. About 6000000. 00 visitors flock to the o
Im sorry so misconduct its good to have you with us the southern german state of bavaria has canceled the october fest beer festival because of the coronavirus the event attracts more than 6000000. 00 visitors every year and authorities fear that allowing it to go ahead would lead to a spike in infections as we report the move is likely to take both the financial and emotional toll. No crowded party tents giant mugs of beer or packed out parades. Germanys biggest festival has been cancelled for the 1st time since world war 2. Large events are currently banned in germany until the end of august october 1st was supposed to start on september 19th but Officials Say the risk of infection during the coronavirus pandemic is just too high 2. Which is painful for us its a great pity because with many things this is not a normal year and this is sadly going to be a year without the 1st. About 6000000. 00 visitors flock to the october fest every year crowding the Festival Grounds but also the ho