Here in hong kong, we are close to 300 points up at the getgo. Dollar on the back foot. We saw one of the biggest drops for the dollar after those comments from Steve Mnuchin when it came to the fact the u. S. May be keeping its fx policy as for now. Those three words dropped the dollar, although we are paring back a little in the asian session. The japanese yen, still seeing weakness. Lows approaching the 2019 when it comes to the yen. Commodities, copper in focus. Up 2 on fed comments. When it comes to the bond market, we are watching yields tumble lower. South korea, 30 year down close to 10 basis points. A surprise cut from the be ok yesterday. Inflationown on their forecasts and we saw a moving treasuries overnight. In the u. S. 10 year after the comments from clarida and john u. S. Futures, continued gains after the turnaround on some fed comments. The euro, we are paring off a little. Mnuchin. Spike from 1. 12 and gold rising on the fed comments. David what else are we tracking
Possible doj probe. Besthile had bunch had the hedge funds have the best first decades. And paring back growth plans for groundingr with the of the boeing 747 max grounds on into next year. We have aircraft on order for december 2020. If it gets delayed much beyond september, we may have to slow down our growth rate for 2020. Manus a warm welcome to daybreak europe. A message to the dollar traders. If you think the fed doesnt want to fight with the market, thats what jay powell wanted to convey, were not going to dislocate your dovish view because were worried about the world, so the dollar on a tradeweighted basis is the strongest since 2002. Pushback definitively against the 50 basis point cut which a number of houses would say would send a panic signal to the market. Pimco says the fate of the dollar, whether its ready to roll over is whether its a sustained cycle. Lets look at the bond market, im looking at the longer end of the curve. Forasis points priced in july. 71 basis point
A clear cut khorasan of the draw of the controversy over legislation and that he needs show of independent investigation into a legit police buttons on to and troll these for the very very minimum the man sent in fact shared by many people within the establishment and yet because of the face issue because so far a t. To govern issue he carried in the decision the 9 and rejected these 3 of these quotes this the mans once again at the end of last week a key young people certainly work theyre angry. And they were disappointed by the lack of response from the carrier and the situation and probably they found that International Support part of it would subside of the the end of the g 20 summit and not the rather good meeting between donald trump and seats in pain. What do you make though of what was on folded. Later in the night when when a number of the protesters stormed the legislative building and and went inside and started posting graffiti all over the place and essentially occupied t
3. From new york to frank for, Christine Lagarde heads for the euros ofs slowing and the need for fresh stimulus. Shery lets get a quick look at how the markets closed in the u. S. Stockmarkets removing with between gains and losses throughout the session before moving decidedly higher in the last hour of trading or so. We have the s p 500 falling to session lows when we heard from cleveland fed president Loretta Mester talking about the fact she could not support a rate cut. We saw a estate, utilities, communication stocks pulling the market higher. The s p 500 closed 3 10 of 1 higher. It was a session of low volumes. We are headed towards a july 4 holiday and not to mention that trading will help only during the morning session. We have seen a little bit of light volume in this session. Not to mention that we have a lot of ecodata coming around the holiday, including the labor report on friday. Take a look at tesla. This was one stock that moved with a surge in late trading, gaining
TheChristine Lagarde says ecb could need fresh stimulus. Shery a quick check of the markets closing, we saw fluctuations in the session. The s p 500 moved higher in the last hour of trading or so, moving to a record high. At one point it fell to session lows after we heard from the cleveland fed president loretta mester, saying she was not ready for cuts yet, which sent markets lower, but Communications Stocks are leading the gains on the s p 500. Volumes were lower, heading into the fourth of july holiday. Wednesday is a shorter trading day as well. The nasdaq finished 0. 2 higher, and u. S. Futures are unchanged at the moment. Lets see how we are setting up for the markets in asia. Kiwi stocks are under fire this morning, and looking at a potential retreat at the start of cash trade in tokyo and sydney. The aussie dollar staying steady this morning, in the wake of the rba rate cut. The governments secondhalf Economic Forecast to consider later today, export data looking shaky and poi