The asian trading day getting underway, dow hitting 21,000 finally. S p seeing its biggest gain figure, all on these expectations we will see march move from the fed. All sorts of action in the asian trading session. Japan punching through aching resistance level. The question is whether Hong Kong Market will join in on the party. Malaysia and singapore getting online. What lets check in on the markets. Lets take a look at this chart on the terminal. Japanese benchmarks in poll position with the nikkei 225 and topics tracking the dows rise, this as the yen trades at a twoyear high, a 50 month high potential with little resistance in its way. Lets look elsewhere in the region. Korean shares also rising 8 10th of 1 . Factory output rising 3. 2 on a monthly basis. Over in australia, index up over 1 . Thanks and miners banks and miners following their australian counterparts. Report of china curbing output of steel and aluminum to reduce pollution. A ceo contact potential move a game chang
Talked it down. What is the direction . Stop, tokyo. The u. S. Vice president is in japan after delivering stern warnings in seoul. Mike pence says japan is committed to u. S. Security. Than a half hour until the european open. How european futures are turning after the mixed picture we saw in asia overnight. A mixed picture here as well with the ftse future trading down. A third of a percent of game. Manus it is no shock that you have a treasury secretary talking about a stronger dollar. Were shocking that you have a president that says it is too strong. Dollar strength pervading across the markets this morning. These are the equities. This is the fx side. The aussie dollar. And a little bit of movement. Dollar again is jockeying. There working back above 108. 83. We have broken the 200 day moving average. Yen iskets would say the dropping in the dollar is rising and that could have an interesting move. Where is the canary in the proverbial coal mine or the iron ore mine . Goldman sac
Haidi china pledges more economic transparency. The pboc will balance the need for stability while controlling asset bubbles. Rishaad sending a different message. Weibo currency opportunities. Global relief rally continues after the french election, seeing a rising tide, listing all markets across the world. , taking a look with attention to the European Central bank. Japano have the bank of starting its twoday meeting as well. That is on wednesday. Gdp growth figures out of the u. S. , looking forward to all that and more as we see the optimism flowing into this part of the world. Haidi thats right. It is a bit of a client trading day, given the australian and new zealand markets closed today to observe a holiday. When it comes to chinese markets, they are not playing ball. Take a look at this chart. A complete lack of correlation when it comes to chinese equities with the rest of the global rally. The shanghai, completely diverting from the blueline, the msci. What we are seeing is t
Minutes into the trading day in the u. S. Julie things are looking a little bit worse than one hour ago. We have negative buys and stocks are relatively unchanged, but you can see the trajectory going lower. It is more easily seen if you look at the futures so you can see the rolling over that we saw going into the open into the cash trading session we bounced a little cash trading session. And weced a little lower have seen yields had higher. The manufacturing data coming in slightly ahead of estimates and we globally have a little bit of a bounce in yields today as chinese manufacturing data, better than estimated. We have selling of bonds globally. Bloombergp on the shows out dish chose how this is playing out on stocks because groups like utilities and telecoms had relief yesterday as yields went down. Now that yields are backup the stocks are back down. That is what is pulling the stocks overall lower. Some of the individual movers include coach and some of the other luxury makers
Fallout from that not only in the oil specific market. Recent slide. It has to do with the crude Oil Inventories number. I looked at the chart. Take a look. This is the weekly change. To taken all the way back 1982. Just a few weeks after we had the biggest draw down on record this is the biggest billed by number of barrels we have seen on record. In percentage terms the week over week change of 3 is the biggest we have seen since 2008. Fairly unprecedented. It comes a time when the oil market is already fragile. Have already seen a pullback that is insignificant. 13 , 12. 5 in the past two weeks alone. Than six dollars being taken off the price of wti already. This doesnt just have an impact on oil markets. It also has repercussions for equities as well. U. S. Averages at their lows of the session. It has to do with energy stocks. Energy shares down by 2 . Thats the worst performing group in the s p 500 now. Utilities, financials and Telecom Services are selling off today. Talking abo