A warm welcome to bloomberg daybreak. I am anna edwards. Lets describe what has been called the night of the long knives in the South African political despair sphere. Dhe devaluation of the ran coming through as president zuma replaces his finance minister. Gordon is out, replaced by somebody with little financial experience. The former finance minister, speaking on the phone to bloomberg in the last few minutes, saying there are a range of characters troubling the treasury. Andion between him and zuma part of the anc. Also saying south africas treasury has a strong team of professionals. We will discuss this through the program. Certainly, the new minister does not seem to have from the cv to have a great deal of experience. Anc, could split. The presidency could be called into question. A fairly popular emerging market destination. Lets come back to the south africa story shortly, but we will check out where we are on various assets in the overnight sessions. The bloomberg dollar in
You on the open. Meeting and maralago. U. S. President trump is looking for a concrete outcome from his xiks with chinas premier jinping. Than an hourless and a half away from the cash trade. It will see a sea of red. Red across the board. Were looking at not massive losses but the ftse futures down 7 10 of 1 , the dax and cap futures down. 41 . Keep an eye and equity trade when it opens 28 minutes and 30 seconds from now. Take a look at declining in the bund yields. Very interesting. It is still off from where it was yesterday. Investors have gotten in and bought it looks like some kind of safe haven protection, pushing the yield down to 2. 5 4 . Over the first half hour of trade you can see we have, but little bit. Interesting to keep an eye on that bund yield. Guy the features futures are interesting. Keep an eye on that, we will talk about that as we work our way through the morning. U. S. Trade will be paid a great deal of attention to. The nikkei was down by 4. 1 . And parcel ofd
Daybreak europe, our flagship morning show right here in the city of london. I am manus cranny. Matt i am matt miller here in the german capital, berlin. Manus good to have you with me. We are in that risk off mode. We decided yesterday we looked at the euroyen, we are looking at the dollaryen and this is where the trump frederick is stoking the heaven haven buying process. We are up by 1. 45 . ,f you want to pull this up 77. 34. The currency use moves, the kiwi is taking the brunt. Trump going on the fox business a network saying there is powerful armada. I we overdone, are we overreaching in terms of the end because one big move in this theater piece in russia could change the direction of the russia and u. S. Relationship. The 200 Day Moving Average at a fibonacci level of 107. 87. Even kuroda stepped in this morning. D in the endervene and does nothing. Matt speaking of headlines i am saying one come across right now from xo noble that it will consider a proposal to hold an egm in
From mercedes and. Shares opened shortly. And mission to moscow. With no sign that the kremlin will change its stance on assad. Matt less than half an hour away from the start of european equities trading. Take a look at futures. Basically green across the board as far as European Markets are concerned. The euro stocks 50 futures up a quarter of a percent. The dax up one third of 1 and the cac is a. It is interesting to see the green arrows there especially if you contrast them with the red arrows we saw in asia overnight and the big risk off trade. The s p is battling. Obviously a big feature on that landscape. Lets get a bloomberg first word update. Sean spicer has apologized for saying adolf hitler did not used chemical weapons. It came as [inaudible] ascer said someone despicable as hitlers did not use chemical weapons. Chinas president spoke to donald trump yesterday urging nuclear about the program. Should settled peacefully to be committed to peace and stability on the korean pa
The u. S. Stocks set to surge at the open. A hectic agenda on capitol hill with President Trumps 100 day milestone looming. Taxes, health care and avoiding a Government Shutdown all on tap. Robot warnings. Alibabas jack ma is predicting that robots will make many irrelevant. And first up though, global rallies in place a day after the first round of the french president ial election. Macron and le pen set to square off in a runoff may 7. Shutting out frances traditional ruling parties. Polls show macron as favorite to defeat the antieu le pen in second round and win the presidency. These polls, jim, somewhere 6436. Some argue this was one of the best outcomes the market could have hoped for. It is, but i wanted to distinguish between them and us. I think that we should not go up as much as they did. They had a lot more at stake. I think were going to quickly revert to what has controlled us which is oil. Which is already sinking. The Interest Rates which need to go higher. And our earn