Talks have been delayed until thursday. Diplomatic and trade tensions between australia and china formed the backdrop as the rba prepares its latest statements. Economists see no change. Shery we will start with breaking news out of south korea. We are getting the final Third Quarter gdp numbers. When it comes to the year on year numbers, a contraction of 1. 1 . This is coming in a little better than expected. The quarter on quarter numbers also rising more than expected, 2. 1 , and beating estimates of growth of only 1. 9 . We have seen some pretty positive ratings especially when it comes to the south korean export numbers. They have seen a lot of external demand, especially in china and the u. S. , despite the fact we continue to see virus infections accelerate in those economies. Again, thirdquarter gdp numbers for the final numbers now beating expectations and coming in at growth of 2. 1 quarter on quarter, haidi. Haidi lets take a look at where we are sitting when it comes to thi
Maintain normal Monetary Policy for as long as possible and fixing will be key. President trump wants to return to the campaign trail as his doctors say he is not a transmission risk. The u. S. And europe are not on the list for easing curbs. Haidi markets coming online for the start of the brandnew trading week. Lets go to sophie kamaruddin. After inome enthusiasm cap the best week since april. Australia posted record shipments when it comes to iron ore, putting some down pressure on the commodity. Gold holding about 1900 per ounce, after its second weekly gain. 2300 for bullion, early 2021. The aussie dollar under pressure. It had fallen by 4 . 4 . The offshore yuan on the retreat. Looking forward to the fix to see if that will add more weakness on the offshore yuan. Futures, nikkei Futures Holding steady while the 106,s trading around testing the 65 day line. Todays south korean markets come back online after the long weekend. We have korean trade data later today. Won trading korea
Hotspot. Australias relations with china somewhere further. Beijing is turning the screws on their 13 billion education there, saying studying may not be safe. We are seeing u. S. Futures at the moment Holding Steady after we saw u. S. Stocks finish mixed. The s p 500, falling a tense of 1 , falling today after 8 10 of 1 , falling today after raising its 2020 losses. Concerns that rebounds could be overdone. Briefly topping 10,000 for the first time ever. Apple, jumping on a report that it is preparing to announce a mac computers. Take a look at the dollar index. We are continuing to see weakness. Losses,ine sessions of the longest losing streak since 2006. We have both seasonal trends and a dovish look. Lets see how things are shaping up for asian markets. After sevenday gains for the kiwi stocks are edging slightly higher. We could see a lower open this wednesday across asia amid signs that the 5. 6 trillion rally is looking stretched. More than half of the regions forecast they bare
Honor to cross the line. And goodbye g20 and time for summer davos. We are live at the World Economic forum at this hour. Shery lets get you started with a quick check of the markets. U. S. Futures rallying about 1 at the moment, this, after the s p 500 saw its best month since january. We have optimism over potential easing trade tensions between china and the u. S. , not to mention the huge photo op President Trump got at the dmz meeting with kim jongun. Take a look at asian futures. We are continuing to see a risk on moves ahead of trading. If we can switch up the boards, futures, nikkei futures up 1. 5 as we get the japanese yen weakening for a fourth consecutive session. Great asets not doing we get risk on sentiment. As korea starts trading on socalled peace dogs as we saw that unprecedented meeting at the dmz. Hyundai engineering and other stocks like korea gas and so forth. Also keep an eye on chipmakers, especially samsung, as we saw President Trump giving some relief to huawe
Im haidi lun. This is daybreak australia. We are one hour out from the open of asias major markets. It is 5 p. M. In new york. Im betty liu. It was a holiday today on wall street commemorating Martin Luther king it is 5 p. M. In new. Jr. So there were no equity bond trading at all. The dollar continues to trade in the Foreign Exchangethe dollar n the Foreign Exchange market. That is really what has dominated the trade today. We saw the dollar continue that slide coming off a five week decline. Talking to some analysts, not so much dollar weakness but it is more strength of its counterparts, right, as Central Banks are pulling back on stimulus all around the world. We are seeing a rise in many of these currencies. Haidi absolutely. Case in point, the extended gains we are seeing in the euro. As you say with the u. S. Markets closed, it was the weaker european close we saw that will lead things off in asia. Tepide seen more of a session setting up in asia. New zealand is trading underway