Be brave. This is daybreak asia, live it from bloombergs u. S. And asian headquarters. I am yvonne man i am betty liu. Yvonne and i am yvonne man. It looks like we got a little bit more drama coming out of the u. S. China dialogue. It seems like the gloves came off in terms of the Trump Administration side. Have to wonder what happened behind closed doors. Would havehought we an action plan in the first 100 days. It was quite tense, both sides canceling their pressers. Will we go through with these tariffs . What is the relationship now between xi and trump . It seemed they were getting along swimmingly well at maralago. To have another golf outing to warm up relations again. [laughter] yvonne we thought this would be a very choreographed event, not too exciting, but we got more fireworks than expected. The pessimism in the markets, wall street, record after record we break. Asian markets, equity markets solidly in the green. Not the case in new zealand, lets take a look at the nzx 50,
Sector, state owned companies will be held accountable for debt. Haidi frankfurt is the brexit winner, Deutsche Bank and citibank the latest to confirm their move. Rishaad show us the money, any money. The cashless economy and a market worth trillions. It seems like all the event risk is behind us. Forward to some people putting their feet up boj, allay, ecb, coming out with policy statements. Conundrum presents a for mario draghi. Despite being incredibly dovish after that ecb lack of action yesterday, we have a split on whether the ecb should be changing its quantitative easing language, deferring how and when on the next to towards normalization later this sheer. Index, a basket of currencies, back to levels before qe started, in fact, slightly higher. The conundrum is if you look at inflation, it has crept up to being higher than that. , and indeed,enign perhaps, that does portend, tell you some dovish this in the European Central bank. Again, it is the idea of how you interpret wh
Brazil and russia. In twoe highest and years. Betty i am betty liu in new york where it is just after 7 00 p. M. Yvonne it is just after 7 00 a. M. Here in hong kong. It has been about the apple earnings. It was maybe a slow quarter before the new iphone, that we were going to see potential delays on that front. Betty it feels a little like deja vu. We have seen apple disappoint before on their numbers with investors for giving apple. There is certainly more tepid revenue numbers just in anticipation of the new devices, the new iphones to come. This one that is anticipated really has to deliver or justify the amazing stock rally we have seen an apple. Yvonne absolutely, i think it is 30 this year. Lets see how the rest of the markets will be. A little quiet on the d. C. Front. Here is how new zealand is faring. We just got the jobless rate 15 minutes ago, falling to 4. 8 . The reaction on the kiwi, we are down 6 10 of 1 ,. 7421 for the currency. We are seeing the post rba reaction. A l
Well. It is important to remember that june did coincide with the weeks price for iron ore so far this year at 50, 55 per ton before recovering to 65 a time later in the month and coincided with the beginning of this strength in the australian dollar. Of the austrian dollar, it is slipping, though not enormously so. A bit of a miss for the june trade data, 856 million. Rishaad thank you so much for that. Thats get it to sophie at reactionlooking to that and the pmi number. The dow puts in an alltime high and it is acting as a headwind. We are seeing investors shrugged off enthusiasm. Equities and currencies under pressure and the region. , ande stocks falling. 2 pressure on the aussie dollar has not subsided given that data out of sydney, falling. 5 . Chinese stocks extending wednesdays losses, down about. 1 . Snapping ang threeday rise, down. 3 . We are seeing investors curb enthusiasm as the rally in hong kong could be due for a pause. We do have the dollar rebounding slightly from a
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