Snapping a sevenmonth losing streak. Deal maker, russia selling an 11 billion stake in its Largest Oil Producer to glencore and the Sovereign Wealth Fund. The russian president went on national tv to tout the deal as one of the largest acquisitions in the oil and gas sector in the world and in the world in 2016. Thats what you need to know at this hour. Lets turn back to our main story, the upcoming ecb decision. We turn to our Bloomberg Team in europe, with our colleague, matt miller. Looking rather cold over there. And paul gorton, who leads the coverage overall of the western European Central banks, in a somewhat warmer situation. Matt, lets go to you. What do we need year from the ecb and mario draghi today . Matt what we want to hear, david by the way, its great to hear your voice is that there will be an extension of the Quantitative Easing Program. The consensus is six months past the march deadline and about 80 billion euros a month, a continuation essentially of the program as
And the problem with loose Monetary Policy. We will break down the ecb decision on rates, and the entire mario druggie News Conference draghi News Conference. We count down to the ecb decision. The opec meeting in vienna. Wall street awaits the latest jobs data. Kick it off, less than 45 minutes away from their decision. Lets check in with the team leader, i am told the News Coverage will be watched closely to get the forecast. Interesting,ing is whether there today, no fresh stimulus probably, likely to show the inflation has not changed since the last projections in march and that is something of a disappointment because the last forecast did not include the ramp up of monetary stimulus, extra bond buying, negative loans and another cut in Interest Rates. A signal the ecb is starting to struggle. It will always say it can do more but it wants governments to play their part in helping the euro recovery. Investors will look for more detail. Nots past june, 2016, i do have a date and si
6 00from london, just past in the morning here this thursday. The markets taking a pause, perhaps on the global stock rally we talked about in recent sessions. Let us focus in on the data coming up of the region over in asia, despite the fact that a number of markets are closed. This is the chinese number, declining of course for four still negative. That is what the uptick on the chinese ppi chart shows. Overnight showing the deflationary threat from china is substantially diminished. We will talk to our guests about that. Let us turn up the risk radar and talk about the broad Foreign Exchange story. Really about dollar weakness, but today is little different. We have a new Zealand Dollar up why one went for a percent, surging to the highest level in a year. No change Interest Rates, but an upbeat commentary from the central bank to delay further monetary easing. The korean juan in there we saw a big move, currently flat against the move. An unexpected rate hike, despite trade concern
In london with tom keene in new york. The pound dropping to a 31 year low and we are back at levels we saw post brexit. Workwe begin the fourday week after your one Day Work Week yesterday. Arkets really moving yesterday the italian banks are front and center, arent they . Francine they are important because there is a feeling among certain investors this could be one thing that breaks the eurozone, not brexit but the fact the italian banks cannot find a solution. Lets get straight to the bloomberg first word news. Nejra in the u. K. The conservative party takes the next step toward electing the next Prime Minister. All 330 Parliament Party members will vote on one of five contenders. Energy minister Andrea Leadsom is in the lead. Grassroots conservatives will pick the leader once the field has been whittled down. Been rocked bys three terrorist attacks in one day. A suicide bomber blew himself up near the prophet mosque. Five security people were killed , and there was another attack
Lot of political crosswinds depending on which way they choose to do it. Jonathan a big story for us in fx volatility as well. David the big story comes up in just about 45 minutes from now. The ecb will be announcing its latest Monetary Policy decision. We will break that down when it happens. Well bring you to Mario Draghis News Conference. First, lets take a look at those markets. Jonathan a look at the market futures. In europe, it is a decent session with the ftse up. The dax is marginally negative. It is sitting very close to the january 2016 high. No drama and the market. No drama in the fx market, that is the story. A boring currency market implied volatility. It is approaching new load for the year. The boring one so far as the euro dollar currency cross. It is stable and stronger today. We have been in a very tight range. We trade stronger ahead of draghi. Four days of gains for crude. A 46 and 4627. In the bond market, we come in at basis points to 2. 26 . Fulltime year bond