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cents. data of course. this was down to the building approvals which unexpectedly rose month-to-month. we can reverse some of the losses toward midmorning. we are back above the 111 handle here for the dollar yen. at 658.eeing cny it is flat of a young to look at this with them the context of yesterday. that being said, have a look at japan. we are now up half a percent. gaining a bit of traction over the last 30 minutes. rishaad: paul allen has the details of this deal. i ll, what is going on here? the operator of the fourth largest airline in china is paying 159 million australian dollars for the stake in paying a hefty price for it. $.30 per share. if a 7% premium on what monday closed at. the virgin ceo held a media call a couple hours ago. here s some of what he had to say. this is an alliance deal which has equity. and we can get back to that. h in a has committed to supporting to whatever the outcome of the capital structure review is. some of the other sha ....
of the year until now, it is an uproar. anna: and we are live in paris at the annual forum, where we speak to the organizations secretary general, angel gurria. here, on bloomberg. a very warm welcome. i am anna edwards in london. manus: good morning. i am manus cranny, in dubai. the china danger, should be drawn into the moment of calm? what is really going on. dollar-yuan,w you near a five year low, the title of this chart is yuan on the brink. this is january time. that is the five-year low. alone,back 1.5% in may the biggest loss since the devaluation last year, which was back here when you saw that ratcheting spiked. but this is really the interesting part. the fx reserves in china, they are building a lot, $17 billion in march and april. are they really that volatile about defending the yuan? capital outflows are getting less and less. low,ollar-yuan, five-year do we just drift that lower on the back of that data? there is many more questions than our answers in ....
edwards. we will be joined by manus cranny from dubai. let us get to the risk radar can the last 24 hours or so. today s show brought you by the city of vienna. on the opec front and the ecb. putting aside for one moment, let us have a look at the asian session. the nikkei to do five down by 1.9%. it was down at one point by more than 2%, looking for the biggest drop around a month. and that is amid the wildly expected stimulus package by abe. level, towards that 109 perhaps more again strengthening this morning. a host of factors in here. here, boj,ax news in resident risk, all of that working its way to the japanese currency. and we have about her index in there for you. down two cents, and the page veryovernight, a keyword, often used in that report, 23 times mentioned in just six pages. setting up the jobs report tomorrow and the meeting on the 15th of june. let us to the bloomberg first word news. here is rishaad salamat. trading for a fifth day, opec ministers mee ....
retreated on friday from the seven-month high after data showed that u.s. hiring fell to the lowest in him a six years in may. the dow jones industrial and nasdaq also fell. we are counting down to the open in australia and japan. futures in australia looking like this, a slightly higher open. economists are expecting the rba to keep interest rates at 1.75%. , whereet over to japan the latest gdp numbers come out on wednesday. futures trading in chicago pointing to a lower open. 6.72, it is pretty strong against the u.s. dollar ahead of brexit. .wo markets to tell you about u.s. treasury secretary jack lew says china is moving in the right direction on the yuan, but needs to improve its monetary policy communication. he spoke to bloomberg in beijing where talks are due to start later today. tom mackenzie is there for us. what exactly did jack lew say? good morning. the u.s. and chinese side will be meeting in a few hours on the outskirts of beijing. it was a wide rangin ....
i will have more on the market movers shortly. angie: president she jinping says china and united states should talk more often to build trust. he also said the pacific should not be a battlefield for competing views. we have our china correspondent standing by live. a mainly positive message from the president? not too much detail, you do not expect too much detail at events like this and opening addresses. the tone, the words about cooperation, greater can medication between the two sides when it comes communication between the two sides when it comes to the issues in the south china sea. a dialing down of some of the bellicose rhetoric you hear in some of the state media. it comes after some close calls jetsy between two chinese that intercepted a u.s. spy plane. building a great wall of isolation. president xi thanked peace and said peace the vast pacific should be a stage for inclusive cooperation, not an arena for competition. john kerry also addressed so ....