Lets talk about whats happening in china. Big trouble in china it seems overnight. Bank fixingentral the yuan a Strange Exchange rate at a lower rate than estimated and that caused ripples of nervousness overnight. That caused the chinese currency to fall. , its point youre making a fiveyear low again. Interventiones and thats what theyre saying in the marketplace. Billion, thats what they are betting that the yuan will fall further. 79 probability it will weaken further and 33 that the yuan will trade above seven for the First Time Since 2008. Latest data is due out thisina at some point morning. Or watching for what it will do to international markets. Globalken the edge off equities since we started this year. 1. 5 . S. Equity market down in yesterdays trading session. Weus more aggressive than saw this time yesterday. Globally 2 trillion worked off Global Equity markets. The dow jones lost 250 points and theres a reverberation. Gaining as you might have expected. The Australian Dol
Retail sales once again blamed on unseasonably warm winter weather. Blame the weather seems to be the scene theme here in the u. S. As well. Anna we have heard this weather cited as the reason for a number of global retailers having trouble. It was a very warm year. So perhaps they do have reason. We heard from Marks Spencer on that subject. But we have to we have to talk about china. We heard patrick talking about a lack of handholding i the chinese authorities in doing whatever it is they are trying to do with their currency. We heard from nick wadhams as well in beijing. He said they botched this u. N. Devaluation. We need to understand better what they are trying to do. The pboc were being accused of the same thing in august. We have the nervousness at the start of 2015 in the pboc says we will cut it by the most since august. That fuels any uncertainty that already exists. As someone tweeted me this morning, if you were 13 minutes late to trading, you missed the whole day. Anna th
Standing by across the world, ready to deliver the stories that will drive your day. The best of 35 million worth of samsung product. Berlin nichols is in following bmw as it struggles to keep its lead against audi and vw. Finance ministers gather. Coming up on our break, the gold industry supports plans to change how the Precious Metals benchmark is decided. We have an exclusive interview with the World Gold Councils Natalie Dempster. That will be at 7 30 london time. Samsung has disappointed investors with its secondquarter earnings. It is protesting a recovery for later in the year. Eh . Ng misses the mark, the Third Straight quarterly drop here at 24 . Samsung has forecast for the second quarter. Multiple elements at work here. They say increasing competition from lowcost chinese vendors, even some european vendors have an impact on sales. Apple wrapping up its competition in the highend space, particularly with those phones with the large screens which will go on sale later in the