Expect sharp moves in the very near term. Both of their comments from the pboc but also their actions in terms of the sharp moves that youve seen just before the close suggested theyre not very comfortable with the very rapid pace of devaluations. Other people are saying its part of their long telegraphed move toward more financial liberalization and its a good thing for the market. Where do you stand on that debate . One of the interesting things is that right now its the need to ease because the activity has been weak. I think those two pressures push you in that direction. Our sense is i think while the near term move might have been the Exchange Rate liberalization, as you roll forward, as you think medium term a year ahead i think those pressures from the economic side especially from the view that china is going to have to unwind this big credit build up, that will push them toward seeking that front and weaker Exchange Rate whaend we think about the fundamental economy in china,
Around the clock. American apparel seals a 90 million deal with creditors to avoid default. This after they warned about operating cash flow amid operating sales. Coming up on the show, we reveal why bill gates is staying behind at the office. Plus starbucks are filling up its cups with something a little different than coffee. We take the lid off the plans. And snapchated at jury duty. One gop candidate takes a day off campaigning to perform his civic duty. Stay tuned for the details. Welcome to the show. U. S. Futures pointing to a lower open. The dow down 28 points. Mixed set of housing data out yesterday. That manufacturing number that killed the market at the open but then the home Builder Sentiment number providing a boost to equities but Global Markets are taking their queues from asia. On that note lets take a look at asian markets. Theres been a sense of anxiety surrounding the Chinese Markets after we got the latest moves to intervene on the currency front. Its another down d
Powerful pmis. The European Manufacturing sector powers on with german and european pmis hitting a sixyear high. Good morning, everyone. Were back from a long weekend. We have plenty of data to get through. Want to tell you about the eurozone factory activity hitting a sixyear high in april. The eurozone final factory pmi is at 61. 7. Inflationary pressures stayed quite strong. Lets tell you what the european markets are doing. Were higher to the tune of a quarter percent. Euro dollar at 1. 0904. Lets look at the european markets one by one. What were seeing is that if we can swap on to the indices. We are broadly higher across the board. The cac 40 up by a quarter of a percent. Ftse 100 up by twothirds of a percent. The xetra dax inching higher to the tune of 10 points. Lets get back to the bigger stories. Ocado shares surging to the top of the stoxx 600 on reports of a tie up with marks and spencer. Better than expected numbers are lifting Aberdeen Asset management and bp. Lets show
Net income as the recovery in the crude price helps oil major boost profits ahead of expectations, while refining margins improve. The u. S. And brazil give ab inbev a headache as earnings slip the brewers two largest markets, despite the tieup with sabmiller progressing well. Front France Equities hitting a high as emanuel macron tears into Marine Le Pen plans before the final election calling her plans nonsensical. To make this happen, we have to leave a system that coproduced you. You are living thanks to it. You are its parasite. Good morning. Glad youre with us once again. Straight to breaking news in the form of central bank decision, this time from oslo. As expected, norways bank leaving the key rate unchanged. The key policy rate will most likely remain at 0. 5 in the period ahead. There is no statement coming along with that decision today. No rate path forecast. It says the 12month rise in the cpi rate was approximately as expe expected. So no major surprised from the norges
In honor of facebooks latest results, were throwing it back with the most liked singers on theocial site. Good theme. I dont know who this is. Do you . No. Selena gomez im told. Most of the averages yesterday ended little changed after the fed pointing to a higher start this morning. S p futures up 4. Dow futures up 33. And nasdaq futures are up 3. The big stock to watch today will be facebook. Shares under pressure, this despite a much better than expected 77 increase in earnings. Results were once again driven by strong growth in the mobile ad business. But analysts say investors are worried about whether the company can keep up the growth. Company warning again about that. Much more on facebook when we speak to gene munster. A look at the Global Market picture. First japan closed for greenery day holiday. Other asian markets, seeing red on the screens of hong kong and shanghai, down about a quarter percent. European borses looking good. For the week so far coming into today, up abou