One china policy should be tied to trade. Prices, this Historic Deal to cut output. Oil jumping over 4 . Jumping to the highest since july 2015. Saudi arabia signaling it is ready to cut output more than agreed, while a nonopec countries including russia agreeing to pump less. Sophie we will have more about that deal in a bit, 30 minutes away from the open in china and hong kong. Singapore, taiwan, and malaysia coming online. What is going on in the oil patch . Game inhere is only one town, and it is demolishing every other safe haven. Gold retreating, bonds falling, all on the account of renewed Risk Appetite after the meeting between opec and nonopec members. Saudi arabias surprising the markets, saying it is willing to cut more than pledged. Russia and other noncartel members coming on board as well. Stocks, oil Energy Stocks leading the gains. Energyheavy markets like a straight up, the nikkei 225 getting that double boost, oil majors leading gains, but the impact of a weaker yen,
Meeting of the year with little doubt about what policymakers will do. It is 8 00 a. M. Across the emirates, 5 00 a. M. In london, i am Tracy Alloway in dubai. Angie i am angie lohan and hong kong. Welcome to blommberg markets middle east. It was the oil surprise, but as we look to the next event, its all about the fed on wednesday. Tracy thats right. Ahead of the fed meeting, im looking at Inflation Expectations. This is one of the feds favorite measure of that, the fiveyearfiveyear forward even break. It is nudging above 2 for the first time in quite a while. Oil plays into that. If we have a rally in oil prices, you would expect that two feet in two Inflation Expectations and consumer prices, so it looks like the fed will have to consider that. Almost everyone is expecting a rate rise at this time. Angie that is absolutely right. Drivingng that was markets this morning here in the asiapacific region was oil, but lets do a quick check of the state of play in markets. You can see thos
Germany. Lets check on some other first word news. Mark crumpton has more. Mark american an american servicemen killed in iraq has been identified as an navy seal. He was killed during an attack by the Islamic State outside the city of mosul. It was the third death of an american servicemember in iraq since the Usled Coalition wants to launched its campaign in the summer of 2014. The United Nations Security Council has unanimously approved a resolution demanding medical personnel, hospitals, and facilities be protected against violence and attacks. The resolution was drafted by five councilmembers. New zealand, spain, japan, and worldwide. Uruguay something is deeply wrong. Tolanations ring hollow parents burying their children and communities pushing the clause to collapse. Mark the International Head of Doctors Without Borders criticized counsel, saying that four of the five permanent members have to varying degrees coalitionsated with associated with a tax on Health Structures over
You are watching the pulse in london. I am guy johnson. France being not here today. Francine not here today. Lets talk about the day after draghi. The president of the central bank outlined the timeline for his 1 trillion euro q. E. Program. The central bank will stop eyeing bonds on march 9. Buying bonds on march 9. Draghi at this point in time, we see absolutely no reason to think or plan or act in any different way from what we planned, namely purchasing of 60 billion euros a month of securities on till september 2016. Or beyond if needed. Guy mario draghi also announced that the ecb had extended emergency funding to greek banks by 500 million euros. And stood ready to resume by greek debt by july if greece repays bonds due by then. The political pressure from the euro Group Members shows no sign of easing. Yesterday i spoke to the maltese Prime Minister. He is insisted the country wont take a haircut on the first greek bailout. Prime minister of malta we are the biggest contributo
Were crunching the numbers for you. The u. S. Is set to go over the fiscal cliff in five days. That means taxes will go up for nearly every american. Dramatic spending cuts will kick in. President obama and congress will be back from vacation tomorrow. But will anything get done . Plus, wild Winter Weather sweeping through the country. Well bring you the latest details on which part of the u. S. Could be hit next. Cnbcs Worldwide Exchange starts now. And welcome to a special edition of reside worldwide. Ross andcle reoff today for boxes day in kelly are off today for boxing day. For now, you is us. Well start with a brief check on the markets. Energy and metals are trading higher now, wtis up about 55 cents. Brent crude up 65 cents. Also want to check in on the gold price, as well. Gold right now down about slightly under the flat line there, 1,658. Well below the 1,700 mark. The cme globex has been closed for christmas. Its going to reopen at 6 00 a. M. Eastern time. That goes for tre