Europe, up by 2. 5 . Todays number from barclays, very strong. We are going to hear from jes staley a little later in the program, our interview from early round. The pound bouncing around all over the place. We were into 1. 31. I think this is broad Dollar Strength rather than anything else. Take a look at the bloomberg dollar index. Alix rising covid cases impacting the economic data. Composite pmi for the euro area dropping below the 50 mark, which shows contraction. Meeting. O ecbs next joining us is john hardy, Saxo Bank Head of fx strategy. Does 1. 18 make sense for when you consider the rising uncertainty . John of course, the pressure should be on the downside given the covid resurgence. I think the general take on the could be that if we are seeing this democrat sweep scenario, we are positioning for a weaker dollar for some time in the future. Anything looks fair between 1. 17, and to me, this is the upper area of where we should be. We shouldnt be doing anything and eurodoll
Ripped up. The are checking the biggest gain in u. S. Equities in four years. Francine yes they are. That rally came after a selloff. Overnight, chinas benchmark index posted a 5 index 5 gain. Lets get context. Mark barton is back in the house. Things are wrapping higher. The feds magic discussion did the job. Fedo the mark u. S. Caused the big rally in the united states. He spoke yesterday. In an unexpected comment, you have to say, he said from my perspective the decision to begin the normalization process seems less compelling. The keywords sit is desperate keywords less compelling. Getting close. Is the six days that preceded this rally. Yesterday, prior to the s p 500 fell by 11 . Its sunk by 11 yesterday. It rose by 3. 9 , biggest 2011ase since november 30, all because of his comments. Trade reducing the probability the fed will raise rates to 24 . 18th, the odds were 28 . We are going to have technical fun here. Look at the emerging markets index, this is a oneyear chart. I want
For the fifth day and arose a row. Anna chandra is here. Multiple reports that president lawyers are trying to undercut Robert Mueller, who is investigating russia. According to the Washington Post, they are saying he has conflicts of interest. The president has been asking about pardoning aids, family members, even himself. Had anican student imprisoned in north korea. He was in a coma when he was released from eight north korean prison. The imf is ended two years of speculation and agreed it to another bailout of greece. Ilionw loan was 1. 8 dollars. That is contingent on debt relief. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries, this is bloomberg. Jonathan thats a you get the euro down. I dont know if investors are by that. My own draghi brought the doves out. The euro is not buying it. The table andd the stimulus program. He delivered a hawkish message to the ecb. Highestthe euro to the in almost two years. Join this is Ri
Here is what is happening at this hour. The Labor Department says there were 5. 4 million jobs open in the month of august. That number a little bit lower than expected. Hurricane nicole gaining strength as it heads towards bermuda. The storm not expected to turn towards the United States. Mercifully. And stocks are slightly higher as the street awaits those fed minutes that brian just mentioned. Right now, the dow is up 40 points after yesterdays big selloff. And speaking of the fed, just one factor in play in todays session. The election. Another as investors turn their attention to those socalled down ballot races. Congressional contests that are coming up in about three weeks time. A little more than three. Were going to hit the story from both sides, eamon javers, lets kick it off with bob pisani on the floor of the new york stock exchange. The market appears to believe that Hillary Clinton will be the winner. The problem is they dont want her to win by too much. There are specifi
Overview on what we are expecting. The main asset class that are moving. He stoxx 600 gaining 1 . Were seeing Bond Investments from saudi arabia. Stocks rallying and commodities rallying. This has to do with speculation that that the fed will remain acome tavet. Let me bring over to my bloomberg terminal. This is the picture for the terminal. Let me get rid of my messages. This is the picture for the c. P. I. Harmonize. Data comes out in half an hour. This is what mccartney will look at to see what he can or cant do in terms of cutting Interest Rates. It has an impact on our prices and the blue sideline prices. Input prices significantly rising more than inflation so far. Lets get straight to the first word news. Barclays says investors should buy european equities regardless whether the Federal Reserve raises borrowing costs in the next three months. Given the support from Central Banks from around the globe, the overall picture is very supportive of stock markets. Australias Central