Welcome to daybreak australia. I am how he stroudwatts haidi stroudwatts. I am animal jewelers in tokyo. Annabelle droulers in tokyo. Jay powell again signaling rate cuts will happen this year. The fed chair suggesting significant changes to the capital plans fiercely opposed by wall street banks. Haidi struggling lender n. Y. C. B. Getting a vote of confidence. Annabelle chinas top economic officials defend their ambitious target and hint at a liquidity boost to help get there. Haidi lets get you straight to the markets. A pretty reasonable set up in asia and we have a bit of downside as we get into the first part of the staggered trading session here in sydney, about. 2 author straight into the middle of trade. We are expecting a rise across the region. Interest rates will likely fall this year. Theres been so much managing of excitation 10 excitations in terms of the timing and the extent of easing we can expect from the fed and we have seen some of that drastic repositioning within
Market. Feeling some tailwinds out of we did not go into this week with a worstcase scenario. The u. S. Government will remain open. We did avert a shut down. Getting initial reaction. Nasdaq futures pushing close to 1 higher. Rishaad dell futures are down. Yvonne there was no a whole lot of banks leading up to it. The market recruit reprieve may not last too long. Youre still talking about higher rates. Rishaad we had first threemonth quarterly loss for the s and p. You have a lot to be playing. We have the 10 year auction coming up in 10 days time. There is a feeling you could see yields going up. Also got a lot of movement for the yuan. Offshore. While the cat as a way the mice can play. No cny to act. A lot of dollar swings. Yvonne the longest break of the year. Rishaad it is a dollar story anyway. Yvonne you take a look at where people are positioning, are things looking when it comes to hedge funds . David we did see that longs pickup second or straight week on the greenback. The
5 billion this year. As donald trump insists he is the least racist person, the s minister calls him an asteroid of awfulness. This is Bloomberg Markets middle east. I am yousef gamal eldin in dubai. U. S. Markets close for mlk day. The Asian Session off to a strong start. The global map gives us the pulse. Gains in the hang seng, up. 6 . Asx 200 up as well,. 3 . On the foreignexchange side, a move in the mexican peso off the back of positive whispers around ,he future outlook for nafta the yen rising to a high against the dollar. Some of it on governor kurodas comments, but also Short Covering from traders. Interesting moves in commodities. The weaker dollar feeding into these trades. 1. 2 , leading the complex higher, even after china data missed expectations. Lets cross the board and let me show you other key asset classes. Brent crude, a lot of commentary , still new highest close in three years. More opec members calling for cuts to be kept through the end of the year. Story. Gain
Lay out his turnaround plan for the business. And wpp weak margins. The ceo says he should have done more in emerging markets. They are our most profitable markets now. I think over the coming years well be more aggressive and if theres one thing i regret about the last ten years, its that we didnt go faster. And a split picture for two of the worlds biggest asset managers, pimco owner allianz suffers. Okay, welcome to the thursday edition of Worldwide Exchange, plenty to get through today. Im looking at the Russian Military exercises down at the ukrainian border, 100,000 troops. Posturing, 150,000. Exactly. Well talk about that. Also on todays show qantas lays out plans to cut jobs and grounds some of its fleet after a disappointing set of numbers. Well get the latest from sydney. As weve been saying the russian flag is raised over the crimea Regional Parliament building. Well be in moscow for the latest. And some positive news from retailers stateside, jcpenney swings to a profit in