Those deflationary pressures, gdp target front and center, will it be 5 . Could it be below five, some say unlikely, but we wait and see in terms of where the target would be. It is also about the fed. We have fed chairman Jerome Powell set for testimony expected to reiterate the fed is in no hurry to cut rates, it is likely to lean towards a hawkish tone. We heard from many officials saying that the fed can afford to wait given the data, given strong inflation remain sticky, and the economy remains resilient. The fed, as well as china, expected to did cake dictate sentiment in the market. Also keeping an eye on thailand, india, as it is said to join the trading day in 44 minutes. Lets look at the set, currently up 0. 3 . This is a market that has been lackluster, one of the worst performers in asia yeartodate. Down 3 on the year. The thai baht has been under a lot of pressure, but today gaining 0. 1 . 35. 805 versus usd, and indian future is pointing to a higher open, up 0. 3 . Adani
It is 9 00 in hong kong. Foroin, a watershed moment this crypto currency. Futures trading in chicago over the last hour so, and a little bit of volatility when it comes cboe website crashing. This is a pretty significant milestone in terms of this currency or commodity to get mainstream appeal and credibility. We will talk about that later on. We are looking at Central Banks this week. It is a big week when it comes to policy. 15 Central Banks globally, including the fed. Wirp onp the the bloomberg. This is likely to be the third and last of Janet Yellens rate hikes as she exits this role. Dotquestion is whether the is likely to change given a new fed chair. We are 30 minutes away from the open in china and hong kong. David is looking at the markets for us. Im looking at this note saying strap in. We are getting ready for the steepest rate hikes in 11 years. Haidi that is what they are saying. David the bond markets are saying the complete opposite. Has threefor rate hikes on top of de
Day. Well begin with the market and whats been anything but a summer sizzle for stocks. Now comes august which is historically hard for investors. The s p has fallen 2. 5 in each of the past five years. As we look towards whats ahead in august, five months to go, does everything hinge on whether the fed hikes Interest Rates in september . I mean, if thats really the case, then i have good news for you. The market says theres no shot. If you look at the cmes fed watch and you believe that the market is getting things right as we get closer, theres a much higher likelihood that you see a december hike. I think a 25 basis point hike is like 42 . Even october, theyre talking about a 20 some odd percent chance. If thats what youre truly focusing all your attention on, the timing of the first hike, you have some time. To hang out in the panic room. If youre more rational, you say to yourself, strongly hinting theyll do something. Even if its a token gesture. Theres absolutely no guarantee th
World war ii victory parade next week. The u. S. Rally may not last. S p futures indicate u. S. Stocks will open lower today. The s p 500 is coming off its biggest twoday rally since 2009. Oil heading for its biggest weekly game since april. Wti up around 43 a barrel. Yesterday after reports the u. S. Economy grew faster than expected in the second quarter. Puerto rico being drenched by Tropical Storm erika. The storm is moving west after flooding the island of dominica. 4 people were killed and several more are missing. Erika could become a hurricane if it reaches south florida early next week. Thee has confirmed architects of its online radio strategy has quit. Ian rogers joined apple and has led the development of apple beats one. One is ae beats gateway to apples paid subscription. Apple is holding an event in San Francisco september 9. Central bankers have made their annual trek to jackson hole, wyoming. Taking part in the Kansas City Feds annual symposium. Randy greeley is there.
The second hour of daybreak asia, coming to you live from bloombergs asian headquarters. It is just after 8 00 a. M. Its just after 7 00 here in new york. I am betty liu. In termsof a lead and of equities. We did jump back from the lows. Investors are taking a wait and see attitude before the jobs report on friday here in the u. S. It seems like the dollar is really helping the move, especially dollaryen. Lets get to the market open with david. Talk about dollaryen quickly. The today chart, as you can see, its rarely clear that the rates should all be shifting to the upside. Thats what traders are telling us at the moment. There is some upside risk ahead of the jobs report later on today. About 30 minutes back you might want to watch this 11562 there. Thats towards the maximum range. We could see more buying. That has really spurred a lot of these models back into action, more money coming in. , 115. 13 is your level now. Looking at the open in tokyo and seoul. We will talk about more