Jobs. Ave tough i dont envy them what they have to do at the moment. Anna welcome to countdown. I am anna edwards in london. Manus i am manus cranny in dubai. Good morning, and a. Anna let us talk about the oil price. Wti yesterday. We are rallying once again this morning. Tomorrow. Data is due seeing increasing in the united eights. Decrease ino weeks back to back numbers since september. We have a number of factors coming in. I have a chart that contextualizes this move. All the way back to 2005. Inventory are forecasted inventories are forecasted to decline again. Bouncing up since the lows in february. 80 since we saw the 12th year those in the price of oil. A number of factors. Wildfires in canada that on the agenda. Warm weather fanning flames. Supply disruptions in nigeria as well. Talking about oil and what you do with the proceeds of oil. Manus, inc. News in your part of the world. Manus, big news in your part of the world. Manus i love this. I love the cover. Have a look. Sau
Retreated on friday from the sevenmonth high after data showed that u. S. Hiring fell to the lowest in him a six years in may. The Dow Jones Industrial and nasdaq also fell. We are counting down to the open in australia and japan. Futures in australia looking like this, a slightly higher open. Economists are expecting the rba to keep Interest Rates at 1. 75 . , whereet over to japan the latest gdp numbers come out on wednesday. Futures trading in chicago pointing to a lower open. 6. 72, it is pretty strong against the u. S. Dollar ahead of brexit. Wo markets to tell you about u. S. Treasury secretary jack lew says china is moving in the right direction on the yuan, but needs to improve its Monetary Policy communication. He spoke to bloomberg in beijing where talks are due to start later today. Tom mackenzie is there for us. What exactly did jack lew say . Good morning. The u. S. And chinese side will be meeting in a few hours on the outskirts of beijing. It was a wide ranging interview
prevails. And when push comes to shove people realize there would be an enormous damage, to both europe and Great Britain, should britain walk away. A warm welcome to countdown. I am an edward. Just past 6 00 in london. Manus will be joining us from dubai. Let us talk about what is happening in oil and stocks, a chart next to me that really encapsulates the relationship between these two asset classes, if you go back to the middle of last year. They have moved very much in synchrony. And of the oil price tending to move in lockstep, or least in the same step. Oil prices over 50 a barrel or the first time in six months. A oneweeks hitting high. But i should say that old has actually snapped its sixday losing streak. Not all good in the overnight trading environment. Lets talk about the risk radar. We have to feature the price of oil because we have gone on the brent price over 60, up high 7 10 of a percent. Theda, venezuela, nigeria disruption playing in here, as well as the drop we saw
Consumer sales in japan showing slight improvement. Shinzo abe considering postponing the sales tax rise. 0 growth, this is a beat. This is a beat when you are flat numbers on month. Ago, we saw an optimistic message on abenomics. G7, he was grim when it came to the Global Economy, and these retail sales not looking good. We are still in negative territory for on year figures. Flat, month figures economist expecting a 6 10 of 1 drop. Now slightly back on the downside. More evidence about possibly another stimulus, a postponement in the sales tax hike. Haidi is that the only option remaining . Whats going to happen . More people joining in this conversation, and aide saying japan needs to hold off to sustain its recovery. We have no other options, he said. This is after we heard that warning coming out of the Prime Minister. This is signaling that he is going to be possibly pose putting this tax hike. I hate decline in revenue that would threaten the goal of abenomics. Since then, we ha
In four months, Accounting Practices are coming under scrutiny. An informationof request should not be seen as an indication that laws have been broken. Think onow what you twitter rishaadtv, dont forget to include trendingbusiness. China markets under way in 30 minutes. Singapore, taiwan, and malaysia coming online. We have a look at what is happening so far. Sevenweek lows, now two week highs. It is a lot more positive momentum coming through across most markets in our region. Malaysia down by a 10th of 1 . The ringgit stronger against the dollar. Singapore, up by 7 10 of 1 . The regional index supported by gains in japan despite a rebound from the yen. The regional Index Holding a twoweek high. Back of the fed expectations that we could see a rate hike early as next month. Members all can assure overnight, signaling we could see 23 rate hikes later this year. Australia down to tens of 1 . New zealand up by a third of 1 . I want to show you a story weighing on sentiment in new zealan