Policy speech. The city faces rising infection rates and a clamp from beijing. Joe biden names his Foreign Policy and Security Team as he with to calm Relations International friends and foes. He says america is back ready to lead. Haidi lets look at the set up at the start of trading. We are seeing some green shoots at the open, about. 4 higher. Global stocks as well as asian stocks continuing to be on a tear. We are watching keenly for developments in kiwi assets, given we had the rbc releasing its semiannual stability report. This is pushing the kiwi dollar higher. U. S. Ashed through . 70 yesterday and we are seeing expectations of negative rates dissipate even further. Unlovedtors rotate into areas, it may not mean the end of things that have been successful so far. John praveen is Portfolio Manager for qma. He joins us on the phone from new york. We are talking about what happens to big tech given the rotation trade gaining a more solid footing. Is it the behavioral changes, chan
In the white house, continue they continue to push reopening. Stephen mnuchin says another shutdown is off the agenda. Like ait does look terrible set up when it comes to this final friday training session. The selloff looks to continue. In the u. S. , it was deep and heavy volumes as we saw that box provedy go really be wrong that came to a screeching halt. 2 trillion to write off the value of u. S. Equities in under seven hours time. The are seeing a rebound when it comes to u. S. Futures trading for the s p, seeing upside about. 5 . Chicago and nikkei futures looking positive. Still, we could see some downside in the session, particularly as we continue to see the yen, really the only outperform against the dollar. In sydney, no such luck. Futures plummeting by over 3 . We had aussie stocks falling the most in six weeks in the thursday session. We are seeing the correction extend to almost 4. 5 percent in the early part of this session as we see downside for the kiwi and the aussie
Worlds biggest processing station in saudi arabia which will be affecting a crude oil supply. President trump announcing a few moments ago he will allow release from the strategic result Petroleum Reserve to stabilize oil prices. Shery look at brent crude prices, surging above 70 a barrel. We are seeing a surge of 19 at the moment. We have seen brent and wti being pressured in the last week as we continue to see this demand going up, really clear given the ongoing trade war, print has fallen rent had fallen last week really clear given the ongoing trade war. Fallen last week. It is up 19 at the moment. Look at brent prices. We have seen huge moves when it came to prices of oil, given the ongoing tensions when it comes to the u. S. China and macro narratives as well, not to mention these are International Energy agencys warning of it agencies warning of a surplus of crude. Down 16 . Crude prices are up 12 . 61 aice of wti above barrel, around the 62 a barrel. When it comes to wti, we co
As protesters moved to shut down hong kong. We are live on the ground. A public spending boost from Boris Johnson raises expectations he is playing for an early general election. Parliamentary majority hangs by a thread. Manus a warm welcome to the show. And raise your game the bet higher. That is the message from the chinese. The dam has been breached. The dogs have been unleashed by the pboc. They are letting the hounds run, even though they verbally intervened. Nejra i love your use of language. What a dramatic day of the markets. The question is where the next resistance level is for the yuan and whether the pboc is going to defend a certain level or whether it is just protecting against wild swings in volatility. Whether we now see the start of a currency war and weather will be more challenging for banks which have less room to ease, which means japan. Manus there are five emergingmarket Central Banks, five more to go this week. I think when it comes to pboc, you are seeing the s
Of one of the worlds biggest banks leaving after less than two years on the job it is a busy monday, august 5th, 2019 Worldwide Exchange begins right now. Good morning good afternoon good evening welcome from wherever you are watching i am brian sullivan. We have breaking news with regard to chinas currency it is sinking in a big way the chinese yuan traded offshore is now sliding below 7 to the u. S. Dollar. That is a threshold thats not been breached in more than a decade tough go to 2008 and the financial crisis now, as that currency falls, remember, what does it do . It makes chinese exports less expensi expensive, which some say could mitigate any positive impact from the u. S. Tariffs. Analysts are quick to note, china could retaliate more against President Trumps tariffs by further devaluing the currency you can see where it is 7. 08 this is a fouryear chart. Remember, it is inverted as that goes up, thats the dollar against chinas currency. Thats a weakening of china. Look at t