Well despite the fact that we speculative trading should be curved up, well see how yum china is doing but a muted debut so far here in the city. We are expecting a Bank Decision highly expected to stay on hold here today. Also with the ecb as well. Watching the euro very closely. Did gain yesterday on the back of a report that some ecb officials having a little more confidence in the recovery from this pandemic ahead of its policy meeting. Theyre likely to hold. Well see what they say about the strength of the currency. 118 for the zero dollar. Pound still under pressure here. Things like the seems like the e. U. May be take manager Legal Proceedings or measures here to stop the withdrawal from this deal that Prime Minister Boris Johnson has been play to play out here. Your indonesia rupia as well. Recovering a bit on concerns about the Central Banks independence. Government think ceying it was opposed to the plan of a monetary board being set up at b. Y. Well dig deep beer shah in a
Depreciation fueling concerns of the cost push Inflationary Pressure could be here to say here to stay. Playing into a perhaps is the slow down in the rise of food prices and perhaps businesses a little cautious to pass costs onto consumer because they are aware of the cost of living pressures building. Equities down 1. 5 today. Its not just a story of japans inflation. U. S. Numbers came out overnight and we saw further resilience come into the u. S. Economy. Pushing out expectations for fed hikes to december fully priced and for the First Quarter point cut for fed officials so a distance here but equities 1. 5 to the downside is we get underway this morning, japanese yield went to note because we are at the 1 mark so rising just a little bit here about that has been the really big trend that we are seeing, we are going back to levels we have not seen before the experimental policy led by the governor of the boj. Lets change on your different stocks we are watching this morning. Samsu
Isolation deepens. The white house says qatar should do more to tackle terror. Strengtheningmies , factory prices rising, so where is the inflation . Getting back to one of our top treasuries somehow chinese officials are getting back into the treasury market after the last couple of months. The previous eight months, they have reduced treasury holdings. Lets have a look at what is been going on since 2010, the buying program when it comes to the treasury market, and looking at this chart 9172. There we go. We have this move back up. Well, it has driven those yields further down when it comes to the u. S. Market, so sustaining the rally for the time being. Haidi thats right. Is that going to drive that you lower . We had that 10 year the lowest since just before the u. S. Elections last year, so we will talk about that a little bit more, a briefer spite when it comes to chinas buying interest. The other data point is this check of the australian economy, First Quarter gdp numbers at th
Im wilfred frost. Good morning to you. Lets look at global stocks this morning. Starting with u. S. Equity futures. It really has been a tale of earnings especially on the dow. Yesterday pulled up by procter gamble, pulled lower by 3m. Dow futures under pressure to the tune of 62 points. S p 500 futures down about 8. Nasdaq down about 26. As for the tenyear yield, we are going into a heavy batch of Economic Data. 176 is the yield. Thats sort of in the mid point of the range that weve been seeing, 170 to 180 a few weeks ago. See if we can climb over that threshold. The betting odds are that december is a go. November not so much. Exactly right. Yesterday we did see in terms of quantity more beats in the Earnings Releases that we saw than misses. But there was some high profile misses on stocks that Consumer Confidence data also had, also oil prices slipping below 50. Apple after the bell a big weight. Thats a factor on futures. Lets look at european equities. Theyre in the red. Quite si