Those deflationary pressures, gdp target front and center, will it be 5 . Could it be below five, some say unlikely, but we wait and see in terms of where the target would be. It is also about the fed. We have fed chairman Jerome Powell set for testimony expected to reiterate the fed is in no hurry to cut rates, it is likely to lean towards a hawkish tone. We heard from many officials saying that the fed can afford to wait given the data, given strong inflation remain sticky, and the economy remains resilient. The fed, as well as china, expected to did cake dictate sentiment in the market. Also keeping an eye on thailand, india, as it is said to join the trading day in 44 minutes. Lets look at the set, currently up 0. 3 . This is a market that has been lackluster, one of the worst performers in asia yeartodate. Down 3 on the year. The thai baht has been under a lot of pressure, but today gaining 0. 1 . 35. 805 versus usd, and indian future is pointing to a higher open, up 0. 3 . Adani
Japans nikkei tops 40 thousand and awaiting testimony from jay powell. Opec plus extends cuts. China unveiling strategies for reviving the economy. We are live in beijing. Diplomatic efforts to pause fighting as conditions deteriorate with planes air dropping aid into the territory. Its a big week for global markets. The National Peoples congress in china and growth targets. You have jay powell in the house and senate and fresh forecasts. The rally continues across asia and 16 stocks out of 18 closing higher. To tens of a percent gains. Looking to losses of a 10th of 1 . Upgrades coming from bank of america. Nasdaq futures are pointing to modest gains. Lets look across assets. European futures, lets look at the currencies. Money moving out of treasuries. 108 on the single currency. Bitcoin in focus having crossed the 64,000 level. Etf flows continued to support opecplus extending cuts, now the most important decision for the cut in june. Brent at 83 a barrel. Mixed demand. What is stan
Budget deficit of 3 of gdp which some say is uninspiring. The csi 300 index reversing earlier losses, now boosted after li qiang talked about plans for urbanization and regional development. Traders say while they are not many bright spots, what is important is that there are no scares. The benchmark is really low. Csi eking out gains so far, no abnormal etf trades, so perhaps the National Team is not in play. Hang seng index currently down 2. 5 , were keeping an eye on the nikkei 22, now below the 40,000 level. Our focus is on china premier li qiang presenting his work report to kickoff the npc with a growth target of 5 for the year. Lets listen. In setting these targets, we considered evolving dynamic at home and abroad, and other relevant factors. And it is not easy for us to realize these targets. We need policy support. And a joint effort from all. Haslinda chinese assets showing stability, csi 300 zero point 4 higher, the hang seng under pressure, the yuan 7. 2096, stable but sup
Delegation from hamas, egypt, qatar, and The Americans talk about the stability of a six or seven week ceasefire in gaza. But israel decided not to send a delegation. Israels says the preconditions it insisted upon that hamas should provide a list of the hostages who remain alive, and those who might be exchanged in a prison swap, or hostage swap, with the palestinians, that wasnt forthcoming. So israel has decided not to send a delegation to cairo. That has been criticised in many parts of the israeli media, and the israeli public, as an understandable position. That isnt to say that had israel gone, there would be others stumbling blocks. Unsustainable position. Hamas wants the withdrawal of israeli troops from Populated Areas of gaza and the citizens of gaza to be allowed to return to their home areas in northern gaza. And those are significant issues that israel might have objected to. Meanwhile, the humanitarian situation in gaza is said to be increasingly dire. The israeli attack
Haidi welcome to daybreak australia. In sydney margaret have just come online. Annabelle im annabelle droulers. We are counting down to asias Major Trading opens and the stop top stories this hour. A positive move as wall street heads its 15th record high of the year. Investors are awaiting jay powells report to congress for dates on the fed rate outlook. Haidi ahead opecplus extending its supply cutbacks until midyear amid soaring production from rivals and uncertainty over chinese demand. Stephen in beijing, one of chinas most important gatherings of the year is about to begin with leaders set to unveil their targets and strategies, perhaps policies, for road reviving the economy. Annabelle kicking of the week with breaking data out of korea this morning. We have industrial output numbers dropping but coming in better than expected over the course of january. Output of more than 12 or 13 on the year passing estimate were 10 . Also industrial output is falling, still and a contraction