Board. Ftse 100 down. Dax down over 0. 5 . , almost byweaker too 0. 7 . Lets take a look at the dollar. This is going to be the currency in focus today. Looking pretty flat, but it is at a sevenmonth high against the euro. Look at the dollar index. The bloomberg dollar index tracks the dollar against a basket of 10 major currencies. That is at a record high. That is the dollar. Ill keep you uptodate on equities. Weve got to look at the Commodity Markets as well. Gold coming in pretty flat. This is trading near a fiveyear low. Expectations increase for that fed rate rise. Coming off its worst stretch of losses since 1950. Silver acts both as a precious metal and industrial metal. It is facing downward pressure from both sides. Almosting a little, up 0. 3 . Copper extending losses. Copper is at a 2009 low. The lme, that dropped 25 this year. It is on course for its worst year since the financial crisis. Jonathan nejra cehic, thank you very much. Lets get the update out of asia. Juliette
A look of what else we are dropping. 82 year low. Currencies, what we have seen is a move towards the safe haven. Yen strengthening against the dollar. The swiss franc is strengthening against the dollar. What we have seen as the euro becomes a safe haven. The correlation between the euro yen act of the highest since 2007. That is the currency. I cannot get back to you until i have a look at oil. I want to look at wti first. A three day bull rally up and three days. The biggest threeday gain in 25 years coming off of the now a little bit. Samestore for brent crude. Last week, we saw brent drop below 45 a barrel for the First Time Since 2009. It is now 54 a barrel. Back to you. Jonathan . Early rules. The ftse 100, the city getting back to work. Is down by over one percentage point. Big moves and asia. Not in japan and not in china but japan. Reporter i wish i had better news but a down day across of the region. What looks to be a volatile september. Disappointing data from china drivin
We wait for the dax to open. The Oil Important number of oil continuing to decline. Is relentless. Thats what is fixating on investors minds. Below 60. 59. 38. The 10th week of declines in Oil Prices Since october. There seems to be no end inside. Iran saying we could see prices below 40 a barrel. Some ways to go yet if youre looking at europe. Up by 3 10 of a percent. Keep an eye on the euro. We are keeping an eye on the ecb and what they are going to be thinking. Yesterday it was about the announcement of 130 billion euros being picked up in cheap loans by banks. Refinancingrgeting operation. Take it back one notch. It is the ltro. The payback will give us an idea of the net liquidity. How much cheap money, and how big is the ecb Balance Sheet . Many feel they will not hit the one trillion euro target that is going to give money to the banks money toully pass corporate. We are seeing the euro traded lower against the dollar. Lets take a look at what were watching in terms of stocks.
It gathered pace when yellin suggested we were in a different kind of mode. Where we are with some of the individual names vodafone had the rating reduced by s p. The debt rating has been cut. Thats the third lowest. 449 for the current offer. Get ready for more. That seems to be the news. They are preparing for a new offer of 500 swiss francs. We are trading below the current did. The market current bid. The market is a little bit unconvinced to do a deal at that price. They got tenants to stay. He is calling the bottom of the euro. It is going to base out around 104. You have quantitative easing. You have to really move on the machinations of greece. It really reinvigorated itself. You had yellin saying to get ready for higher rates. 12 year low. Will it get to 132. You enjoy the weekend. Spanish inflation month on month. The preliminary reading comes in at 0. 5 . 2 . The Inflation Numbers better than expectations. We get the final reading followed by inflation of italy. Bit later gr
The Christmas Lights are beautiful. You can really smell it. Christmas is in the air. Air is also an air of panic. In every shop window, a sale sign. Marks and spencer is offering 30 off. Don the road, 50 off. More on why retailers are slashing their prices and why ubs says the clothing retailers have hit the panic button. Caroline, we will get back to you very shortly. , lets have a look at these equity markets. We are seeing higher equity markets as europe loses aaa s tatus. Does that really matter . Stocks saw their biggest rally in nearly three months. Higher by door to voice a deutsche divorce a borse and merck. We will see stocks and indices go off the board today. All agility will be the name of the game. The dollar index rises. Fx volatility is dropping. Pimco does not expect the dollar to rise much. The euro dollar drops by a quarter of one percent. It has had a good run. A couple of stocks and headlines. 25 . Oil down. They have a big venture with london and there is a delay