Index, just marginally down. The real story has been the bounceback after last weeks fall for bitcoin, approaching record highs. 19,595. 1. 1 to the upside. Drivings within opec that crude oil price down. Lets look at what is going on in the emerging market context. Asian markets are bouncing back nicely after yesterdays big move to the downside. What has been responsible for this change in mood . , onethink first of all should partly see yesterdays price action as an anomaly. I think the Way Investors are now returning to the positive things like easy fed policy, Global Economic recovery, which was confirmed by asian pmis and the index that just came out, and optimism about vaccines. Juliette and your team has written a piece on the e. M. Currency outlook for 2021. It reads quite positively. What is the basis for all that optimism . Maybe there are three reasons. First, valuation. We believe that emfx is undervalued and conditions should be conducive to pushing them into overvalued te
Gdp readings are expected to show an 18 rebound from the covid19 fallout. 15 asiapacific nations formally launched the biggest freetrade deal. The accord covers 2 billion people and is a decade in the making. Howi lets take a look at it is feeding through. Havent seen much of a reaction when it comes to the kiwi aussie dollar. We are seeing bond markets the little bit cautious. We are seeing 3 10 of 1 when it comes to trading in sydney. Thirdquarter gdp numbers showing a sharp rebound in japan. We are seeing nikkei futures trading mildly optimistically. That is the picture when it comes to u. S. Futures. Back to thiss get incredible trade deal. After eight years of difficult negotiations, the largest ever freetrade deal has finally been signed. The regional, comprehensive, Economic Partnership includes 15 countries with china, japan, on. Ralia and all of aussie how important is the timing of this considering the damage caused by covid19 . This will be, as trade ministers will say, a bi
The show. A oneday day holiday on monday. We have seen initial gains of 85 , but still a healthy debut. A big ipo in hong kong. Smic is picking up 3 despite reports earlier. Gaining and alibaba is also up, close to four points. Currencies it onto in terms of cnh. It is around the level that it was fixed at. Pound, between brussels and london, increasingly concerned. It is currently down. 4 . 39, 1. 7 . Yvonne how they are going to reopen is still the key question. More than 4 incline. A rallyting a blip for reversal. Thisrine, we have seen text selloff just for a bit. Thisthat it can lead market at the moment or i looking too tired at the moment . On one side, you see the market really being driven with a lot of liquidity and strong retail participation, also in the u. S. , so i know it is contrarian, but when you look at the sectors, some of these companies are delivering on earnings. Fundamentalsat the and these companies that can achieve earnings growths. What kind of correlation ar
Boris johnson sparked outrage. News out ofing south korea. We are getting the jobless rate falling to 3. 2 percent. The expectation was that the jobless rate would come in at 4. 2 percent so this is much better than expected. We are also talking about the sixth straight month of decline in jobless rates. That 270 4000ring jobs were removed in august from a year earlier. We know that south korea has seen its government really boost those job creation efforts not to mention we could have seen domestic demand being held by the Summer Holiday season and more jobs being available. The government pushing for a fourth extra budget. This is of course helping workers and businesses who lost income due to the latest restrictions and jobless rates. 3. 2 . In for august at watch out for what happens later in the following months given we have seen this flare up in virus cases towards the end of august, haiti. Haidi. Haidi pretty dire numbers coming out and we continue to watch what happens when it
Fall on year and below analyst expectations. They confirmed plans to exit thermal. U. S. China relations sour even further. Jing says the tax lets take a look at how we are shaping up for this asian trading day. U. S. Futures within shouting distance when it comes to the regular session of that february record but then retreating by the close. We are seeing not much happening when it comes to active futures contracts. The nikkei 225 looking weaker going into the open. Chicago futures trading there. The topix in the meantime remains the bestperforming market in august. We will see if it continues those gains today. Ftse futures looking like we will open up higher by. 4 . The data calendar for the day, we get the rba august meeting minutes, looking into the details of their bond buying as well as the renewed assessment of how that new victorian lockdown will barter economy in those Monetary Policy settings. Also watching crude, we are seeing weakness, just holding over 42 a barrel althou