We are waiting for a 10 45 press meeting with the signatory of state the secretary of state. Guy that is going to be fascinating. We have an emergency meeting of european Foreign Ministers as well today, but that story in washington is one to watch. Im sure the crude market will be. European stocks up a little bit today. We saw a little bit of action around the payrolls number, but not much. Saw our way back from earlier highs. The dollar continues to push on up. I am going to show you some charts later on talking about some of the Technical Levels the. Ollar is facing now to the upside. 1. 11 now. A little bit of movement in the bond market. We are looking for next weekend the signing of the phase one trade deal. How good could that be for europe, and what is already priced in . Vonnie sticking with jobs, the u. S. Labor market closed the year with a little less momentum. Nonfarm payrolls rising hundred 45,000, compared with a median estimate higher than that. Unemployment held steady
Just a little bit of selling often treasuries. Crude oil is strong today, above 60 a barrel, giving a boost to some of the Oil Producers as well. In europe, we did get some disappointing ism data, but that is not doing anything to hold back markets. Stockocks euro 600 the euro 600e stoxx up. Sterling is off of its high, which was above 1. 35, after the election results. 1. 3334. The renminbi at 6. 9 nine today. Lets get to the latest on the geopolitical and mark laid implications of the phase i trade deal between the u. S. And china. Joining us is tom orlik, chief for bloomberg academics bloomberg economics. Tom i think there is a tangible sense of relief that a phase i deal is going to get over the line, and that those december tariffs are not going to go into effect. The rollback of some existing tariffs is an additional positive. At the same time, we dont have to go very far back in history to osaka over the summer or on a series or but osiris or buenos aries to remember what trade
On suspicion of the murder of an 89 year old woman in north london. Dorothy woolmer was found dead at her home in tottenham. Now on bbc news, live to singapore for Asia Business report. The us dollar falling and the us dollarfalling and gold prices rising. Overnight, us stocks tumble as investors react to chinas move on the yuan. Is the trade war turning into a currency war . In hong kong, we assessed the damage to the economy as protests spread more widely throughout the financial hub. Hello and welcome to Asia Business report, im sharanjit leyl. The us treasury has formally labelled china a currency manipulator and its accusing beijing of weakening its currency, the yuan, as the trade war escalates. As a result of the move, treasury secretary Steve Mnuchin will engage the imf to eliminate what it calls unfair competitive advantages created by chinas actions. On monday, china allowed its currency to full to the weakest levels against the dollar in about a decade, following this twitte
Is a big reason why, bouncing back, 6 today, more than 6 as this rally picks up. Its about 15 to drop off in the last month or so. We will have more on that in a moment. Started the big deal if u. S. Steel sewing 30 , even though it rejected the takeover offer from cleveland cliff. Its unusual to see that kind of move. Whether this deal or a different one could be on the horizon for the original x, tyler. Stocks have been falling across asia. This is about real estate in china. Lets bring our friend dennis. He works with u. S. Companies doing business in china and has been warning about the troubled state of chinas economy, and this does nothing to improve that, does it, dennis . In part because real estate is such a huge percentage of the chinese economy. Tyler, 25 to 30 of chinas economy is real estate, so when you think about it, you take 25 to 30 of our economy, it went down, and how much that would be . You spoke about last week chinas really poor Economic Performance in q2. Ever
Us a bit of support. A little bit of strength on the yen. The bank of japans yield curve control may not impact the markets which some are expecting, so do not expect any great strength. Crude oil, and opec meeting coming up. Yvonne you have the dollar sinking the most in two months so there was this fed commentary about how it looks like what the fund is leaning towards is a positive or a skip in june. That is helping lift overall the risk move. Even china, you take a look at the rally we are seeing in the hang seng. The extreme bearishness is coming off a little bit now. Rishaad yesterday if we wanted to go to the advice of the hang seng in 2018, you would need to have an 18 improvement. But ecb inflation. Christine lagarde has a bit more wiggle room, came in at 6. 1 inflation. Compared with pakistan yesterday, 37. 97 . Yvonne yikes. But the euro story will be interesting. If they are also close to a positive we heard from some of the ecb officials that may be the next few hikes are