Australia, 1. 95 , a record low. The yields coming down further, market fear driving this lower, according to the senior strategists. It moved back into safety, really more pronounced when you look at the currency markets. If you had to pick dollar or yen, it would be the yen. If you had to pick the dollar and yen against anything else, you would pick both. Past 102 thised morning. What a difference. Before i go, have a look at this, pushing up. We are looking at more weakness in the renminbi. Just a key data point at want to mention. We saw the private survey in services, improvement in june. In other words, more optimists than pessimists. Yvonne david, thank you. Australias trade deficit was that it had expected it may, coming in at 2. 2 billion aud, the equivalent of 1. 7 billion usd. Rba sets the the cash rate later today with no change expected. For more, lets get to paul allen in sydney. Paul, the economists were pretty much unanimous on no cut, but its a different story for augu
Welcome to countdown. I am anna edwards. Manus i am manus cranny. It is a big day for the bank. Hsbc profit falls 545 . We have seen the stock open portrayed in hong kong. They are planning a 2. 5 billion buyback. The removed the timetable. The headline, pretax trough it 3. 61 billion. Last year it was 6. 6 billion and the estimates were for 3. 9 billion. A recession potentially in the u. K. Impacting hsbc. If you want to think about it on this scale, since 2011 they slashed 87,000 jobs. That is a bank in restructuring. Downng in hong kong, 0. 75 . Anna this is from the thirdlargest bank. Net profit for the Second Quarter is 1. 1 6 billion euros. That is above the estimate of 994 million euros. The bank also telling us the gain they have made on the sale of euro state. That bank went deal went through. Many banks booked a gain on that. They are all but facing headwinds from the low Interest Rate environment. What will be key as we go through these numbers is the bread and butter of ban