For a september quarter. There are also concerns about the ant ipo fallout. And america awaits the outcome of the president ial election, seven states now holding the keys to the white house. Wisconsin heads to a recount and others face challenges in court. Foropen here in sydney friday trading in asian markets, we have seen an eerie calm and trading across equity markets, and globally, on expectations that policy gridlock will me know extreme measures when it comes to the tax front being taken and more status quote when it comes to the visible markets. We are up. 2 when it comes to sydney, the in aussie dollar and commoditieslinked currencies it particularly well. We have the u. S. Dollar fall to its lowest in two years. The nikkei 225, we expect weakness going into the open but we have japanese stocks trading in the green every day of the week. Also watching the yen, but interestingly, as an election respirometer, we continue to watch price action in china as well as volatility in ch
Services. Westpacs full year profits plunge after fines for Money Laundering. Cash earnings falls. One of those stocks where watching going into the sydney open. Lets look at the market open. Sophie . Expecting some moves this monday. The biggest weekly drop since september 25 as investors adjust the some of the risk ahead. We did have the worst week for aussie stocks since april. Adding 0. 1 . We have amp shares gaining trillionter the this wealth manager said that a preliminary takeover approach of every management values the company at 4. 5 billion. Westpac has results out this morning. Later this week we get results upm alibaba which ticked single day sales early on sunday. The ipo is a big event we are watching this week. We are expecting a big pop here on thursday given the massive appetite we have seen for the offering. Friday had the biggest drop since june. Of a private survey of chinese manufacturing data. To focus more on the u. N. , lets pull up on the chart on the terminal
Rate declining. Japan lifts its emergency measures in tokyo, saying theres no need for further restrictions. Scott morrison addresses the pandemic file that later. He is being told he has a once in a generation chance to reform the australian economy. Consider. S to as we get underway this Tuesday Morning in the asiapacific, keep in mind lots of markets were closed monday including the u. S. The futures, to use that is any guide, we can almost say we are in the asiapacific. We are getting this coming online. Up 30 points clear of where you last traded on the s p back on friday, in terms of the cash market. Spy futures indicating a big pop. On top of the best day on monday. Highs. March 111 philip the board and take a look at the currency markets with ecb in focus and perhaps we are getting signals and some comments from key policymakers, we could get more stimulus, probably on the way. I will be generous. The record low. The aussie offshore rate back in september. There we go in terms
How these cuts will be disk it and how willing will russia be . Certainly some optimism today. Jakarta is coming online. A pretty steep fall off of stocks yesterday. We are rising. Ingapore is up the csi 300 is up. 3 . The dollar is looking pretty mixed across asia. The reaction from that meeting has been seen in the korean won. We are seeing that strength. Nine out of 17 economists respected the hole. Some were expecting for a cut. We are looking ahead to governor lees press conference. We will hear more clues about the trajectory of where rates go and whether they will embark on this qe theme that we have seen in many Central Banks. The dollar yen, we are seeing a little come off of the yen. Were advancing on the back of the oil prices in the euro, premuch flat. Lets stick to oil. Prices are rising again ahead of that opecplus. The worlds Top Producers may be moving closer to a deal on curbing output. Volatility remains a key theme. Wti has seen another 24 hours of wild springs with
Markets i treasuries as well. The aussie 10 year yield down 16 basis points and money rush into the end. Oil in a bit of a freefall once again. Brent crude down more than 6. 5 . We areke below 20 and watching indonesia here in particular just coming online. The stock index drops re. 5 . Once again, we are seeing a lot of these em volatilities, back once again. We are watching the pboc after that interesting move to cut the seven day repo rate by 20 basis points so they are joining in on the stimulus ways. Lets get more on this with david ingles coming forward. We are watching u. S. Futures in particular continue to head lower. Lets start with the 7 billion injection into the system. I mean, quite a bit. David yes. A couple of things i guess to get out there. You dont normally see a reduction of this magnitude from the pboc. You also have to consider the fact that we know the economy is not doing well and in fact, the latest forecasts now suggest quarter on quarter, you take the median.