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Apr 2, 2024
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we are hearing from chris, from the rba. he is not ruling anything out when it comes to the future move of rates in australia. haidi: he said uncertain when he was speaking upstairs earlier at bloomberg offices in sydney. uncertain is also what we are looking ahead to in terms of how the yen plays out, in where the intervention comes. we are under that, but looking pretty close with the dollar at its highest, pretty much its highest levels we have seen so far this year, at least since the little of february. the nikkei 225, stronger by .25%. we did have the first day of the fiscal year for japan. we are seeing investors at the start of this week doing profit-taking, particularly when it comes to the performers. we are seeing broad upside as the nikkei comes online. watching those chip stocks. we had news of further investment from the governor -- government, looking to make those two nanometer chips. that would be a significant uplift when it comes to those chip and ai and tech related names. topics moderately higher at this
we are hearing from chris, from the rba. he is not ruling anything out when it comes to the future move of rates in australia. haidi: he said uncertain when he was speaking upstairs earlier at bloomberg offices in sydney. uncertain is also what we are looking ahead to in terms of how the yen plays out, in where the intervention comes. we are under that, but looking pretty close with the dollar at its highest, pretty much its highest levels we have seen so far this year, at least since the...
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Apr 28, 2024
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rba, australia also had an upside surprise in q1, so that pushes back the onset of their rate cuts. we originally thought they might go in august. now we think november is likely given that we have more work to do to see inflation come back down to the target, so for many central banks especially developed market that is all about the inflation market outlook. to a large extent it is all about the fed. they feel they want to see the fed in easing modi before they feel comfortable cutting themselves. haidi: a key surprises what we saw out of the bank of indonesia. are there key vulnerabilities in these more frontier aspects of asia and central-bank policies there? >> india is a great example. they have an fx ability mandate. the rupee moved above 16,000 two the dollar, and because of that the goal for fx ability they decided they needed to raise rates. indonesia is probably one of the better examples are one of the more fx focus central banks in the region, but that dynamic waiting longer to cut, or even in the case of hiking is something we will continue to see if we do not get a re
rba, australia also had an upside surprise in q1, so that pushes back the onset of their rate cuts. we originally thought they might go in august. now we think november is likely given that we have more work to do to see inflation come back down to the target, so for many central banks especially developed market that is all about the inflation market outlook. to a large extent it is all about the fed. they feel they want to see the fed in easing modi before they feel comfortable cutting...
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Apr 24, 2024
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rba is the perfect case heading into the data. swap markets were looking at a 70% chance of a cut, now less than 50% chance this year. a lot of the inflation numbers are showing central banks have to be more careful before considering rate cuts. tom: hard work to get through the last mile with three plus percent handle, cpi was 3.6%. mary, thank you. walking us through the inflation print out of australia. 7:00 a.m. u.k. time, big week in bank earnings. we will get lloyds banking group earnings, so think about that in terms of scrutinizing the u.k. banking space. 9:00 a.m., german business climate will take up, expected to build out modestly improving german economy. that data is out at 9 a.m. u.k. time and another big day. boeing, meta and the ai catalyst. ibm and forward, all those earnings later stateside. u.s. president biden is expected to sign an aid package into law today clearing away for resume shipments to ukraine of weapons as soon as this week. details are next, this is bloomberg. ♪ tom: welcome back to daybreak euro
rba is the perfect case heading into the data. swap markets were looking at a 70% chance of a cut, now less than 50% chance this year. a lot of the inflation numbers are showing central banks have to be more careful before considering rate cuts. tom: hard work to get through the last mile with three plus percent handle, cpi was 3.6%. mary, thank you. walking us through the inflation print out of australia. 7:00 a.m. u.k. time, big week in bank earnings. we will get lloyds banking group...
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Apr 2, 2024
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you do get the sense the rba is stuck between a rock and a hard place. >> yes. in my mind, the australian economy is in very good shape. the real estate arm particularly in sydney is really booming. it may be over price, but prices continue to rise. australia is getting rich, and a lot of people want to be in australia. it is a great place to live. if you asked me, they may have a little problem getting inflation down, but generally speaking, the economy is in good shape. haslinda: it really is about the property sector. prices keep going up. >> yes. i was recently in sydney, and i realized why people are buying property in australia. it's a wonderful place to live. a great atmosphere, great climate. well organized society. if they open the doors to immigration any further, they would get a flood of immigrants coming in, so i think that is the problem they have. haslinda: if you want exposure to australia, how best to play that? >> of course, equities again. you have to be in equities in order to get exposure to that market. i would say the service sector is the
you do get the sense the rba is stuck between a rock and a hard place. >> yes. in my mind, the australian economy is in very good shape. the real estate arm particularly in sydney is really booming. it may be over price, but prices continue to rise. australia is getting rich, and a lot of people want to be in australia. it is a great place to live. if you asked me, they may have a little problem getting inflation down, but generally speaking, the economy is in good shape. haslinda: it...
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Apr 26, 2024
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the rba -- do you see a bit of aussie dollar strength in the future? steve: look, aussie dollar, and most currencies have traded on the back of central bank reaction functions. i think the cpi tells the market that rba is going to cut again and the next move -- they will not cut any time soon. the next move could be a hike. if you chart it out against cnh, the relationship is not as tight as it used to be. we actually like aussie dollar. maybe not against the usd, but against things like the swiss franc, we think it will do well. paul: steven englander, global head of g10 fx research at standard chartered bank, thank you for joining us. still to come, china's largest autoshow is underway. the industry's biggest names showing off their hottest new designs. we will be live at the beijing autoshow up next. this is bloomberg. ♪ paul: china's largest autoshow is back in beijing. some of the biggest names in the industry showcasing their extravagant new models. our chief north asia correspondent stephen engle spoke to byd's chief designer about the inspira
the rba -- do you see a bit of aussie dollar strength in the future? steve: look, aussie dollar, and most currencies have traded on the back of central bank reaction functions. i think the cpi tells the market that rba is going to cut again and the next move -- they will not cut any time soon. the next move could be a hike. if you chart it out against cnh, the relationship is not as tight as it used to be. we actually like aussie dollar. maybe not against the usd, but against things like the...
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Apr 23, 2024
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'rba rhtft ts.st money" podcast. 'rba rhtft ts.st money" podcast. wee ckig aerhi a team that's highly competent. i'm just here for the internets. at&t it's super-fast. reliable. you locked us out?! arrggghh! ahhhh! and most importantly... is the internet out? don't worry, we have at&t internet back-up. the next level network. i sold a pillow! >>> welcome back to "fast money. stocks continuing their rebound. the dow jumping 263 points for its fourth day of gaining in a row. the s&p up 1.2% and the tech heavy nasdaq up more than 1.5% ibm reportedly nearing acquisition of cloud software provider hashicorp, which could be announced in the next couple of days. hashicorp surging 20% on that report and shares of spotify cranking higher, up more than 11% and notching its best day since 2022, after results came in above expectations this morning. that stock up 62% this year after recently raising streaming prices and laying off 17% of its work force dan, what do you think of spotify? >> pretty astounding, when you consider just how poorly netflix acted to th
'rba rhtft ts.st money" podcast. 'rba rhtft ts.st money" podcast. wee ckig aerhi a team that's highly competent. i'm just here for the internets. at&t it's super-fast. reliable. you locked us out?! arrggghh! ahhhh! and most importantly... is the internet out? don't worry, we have at&t internet back-up. the next level network. i sold a pillow! >>> welcome back to "fast money. stocks continuing their rebound. the dow jumping 263 points for its fourth day of gaining...
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Apr 29, 2024
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we are potentially watching the rba. now that the cba have pushed back at first rate cut to november. we are watching through looking pretty flat. the big story has been currency. trainers warning that governments may need to ask repeatedly. that's of the surge fuels speculation of intervention. paul joins us now. the question is still out if it really matters in that sense. what are the expectations in terms of where the momentum and trade goes from here? question morning heidi. i think the signs in the oven is .2 strong suspicions that the doj and the mof were in the market. they have done so given the pressure that the committee has been under of late. the fact that they needed to do something in order to bolster their credibility somewhat having made so many noises and threats over recent weeks and even gone to washington dc. it felt like there was definitely an opportunity to spot something of a reversal that. the sentiment is that in order to keep these levels, it will require more, it will not be a woman done exer
we are potentially watching the rba. now that the cba have pushed back at first rate cut to november. we are watching through looking pretty flat. the big story has been currency. trainers warning that governments may need to ask repeatedly. that's of the surge fuels speculation of intervention. paul joins us now. the question is still out if it really matters in that sense. what are the expectations in terms of where the momentum and trade goes from here? question morning heidi. i think the...
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Apr 2, 2024
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lizzy: that was rba assistant governor christopher kent speaking to bloomberg. of u.s. futures are pointing lower today after the s&p closed lower 2/10 of 1%. stocks doing the losses after factory data is stronger-than-expected, reinforcing that the fed is not in a rush. traders pricing the full first cut in september pushed back from the start of the year. treasury yield at 4.69%. coming up, oil years a five month high. we will dig into that next, this is bloomberg. ♪ (jennifer) the reason why golo customers have such long term success is because we focus on real foods in the right balance so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real food and lose this much weight. the release supplement makes losing weight easy. release sets you up for successful weight loss because it supports your blood sugar levels between meals so you aren't hungry or fatigued. after i started taking release, the weight just started falling off. since starting golo and taking release, i
lizzy: that was rba assistant governor christopher kent speaking to bloomberg. of u.s. futures are pointing lower today after the s&p closed lower 2/10 of 1%. stocks doing the losses after factory data is stronger-than-expected, reinforcing that the fed is not in a rush. traders pricing the full first cut in september pushed back from the start of the year. treasury yield at 4.69%. coming up, oil years a five month high. we will dig into that next, this is bloomberg. ♪ (jennifer) the...
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Apr 30, 2024
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expectations for the rba from september now not expecting a cut until november. let's bring in garfield reynolds who leads our markets live coverage pretty let's start with the post-manic monday situation for the yen. it looks like they did probably intervene. commentary was still kind of ambiguous. if we assume that they did, they are not getting much bang for their buck. garfield: that is one of the things that have you wondering if they did, although from our point of view, if japan did intervene in the yen, they might have to some extent been forced into it. because you had thin liquidity, the yen almost went through the 160.20 dollar level that was the weakest since 1990. if you go past that, it is than back until the 1980's in terms of how weak the level is, what the scope of the climb is. to some extent it is the kind of territory where a government or a central bank would normally intervene for its currency. it is getting to unacceptably low levels. if they don't step in, you can get a really disorderly retreat. and that is very much about a tactical set
expectations for the rba from september now not expecting a cut until november. let's bring in garfield reynolds who leads our markets live coverage pretty let's start with the post-manic monday situation for the yen. it looks like they did probably intervene. commentary was still kind of ambiguous. if we assume that they did, they are not getting much bang for their buck. garfield: that is one of the things that have you wondering if they did, although from our point of view, if japan did...
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Apr 12, 2024
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rba looks like there's the possibility of a rate hike. the inflation dynamics across the globe are very, very different. i think central banks will obviously have differing policy moving forward. i think global growth is still slowing to some extent. not as much as anticipated at the start of the year, but, yeah, i think central banks will be driven by their own country dynamics rather than what the are doing at this point. haslinda: hang tight. i'm going to bring in my colleague who joins me in singapore. we talk about how the be ok stood pat. mes stood pat. pretty expected given that everybody is waiting on the fed. >> that's right, especially after u.s. inflation came out much stronger than expected, and the rate pricing for the fed has also pulled back. i don't think any central bank in asia would go out there and say they are ready to cut interest rates when inflation uncertainty still remains the buzz word. when i was in singapore in january and i met with a bunch of investors, at the time, there was a lot of optimism, and people we
rba looks like there's the possibility of a rate hike. the inflation dynamics across the globe are very, very different. i think central banks will obviously have differing policy moving forward. i think global growth is still slowing to some extent. not as much as anticipated at the start of the year, but, yeah, i think central banks will be driven by their own country dynamics rather than what the are doing at this point. haslinda: hang tight. i'm going to bring in my colleague who joins me...
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Apr 30, 2024
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rba is cutting in february next year according to the forecast. i think this currency can withstand dollar strength in the near term. haslinda: in terms of best carry trade for 2024. >> carry trade wise, short-term, the yen remains on the back foot. i would not try to chase it much weaker given that we are hitting holds. beside the first -- swiss franc, on a local basis we like the taiwan dollar. as i mentioned before, as we head into the u.s. election, the potential for massive rebound is actually very limited. what the cost of carry of 2.5%, the chinese yen is popular. haslinda: why don't you mention the indian rupee is the best stable trait? rbi has supported the indian rupee and some say that it's possibly the best bet. >> i was mentioning the short side. indonesia rupee has shown us they will defend against a currency. indian rupee has the story of one inclusion, besides the fact that the fx is a great deterrence. in the rupee we might -- against the -- haslinda: could it be a surprise for the u.s. election at the end of the year, what might
rba is cutting in february next year according to the forecast. i think this currency can withstand dollar strength in the near term. haslinda: in terms of best carry trade for 2024. >> carry trade wise, short-term, the yen remains on the back foot. i would not try to chase it much weaker given that we are hitting holds. beside the first -- swiss franc, on a local basis we like the taiwan dollar. as i mentioned before, as we head into the u.s. election, the potential for massive rebound...
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Apr 24, 2024
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pump earlier as well on the hotter than expected first-quarter cpi print, suggesting that maybe the rba won't be easing anytime soon either. i want to talk to you about the yen as well. the bank of japan blessing -- pledging to prioritize instability in its next meeting. are there any measures that you are anticipating? will they be effective? >> i think definitely the short positioning in the yen is at extreme levels. so any comments by the bank of japan to some line in the sand for the yen around that 155 level is clearly going to create volatility in that context. in the end, the fundamentals for the yen's continue to reflect the differentials on the right side. we think the bank of japan would remain very cautious in the current environment. as a consequence, we do expect that this 155 hard line in the sand definitely will have some resistance to it. as we go through the course of the rest of the year and into next year, we expect the yen to weaken. that being said, we have paired back yen weakness -- yen strength i should say as we go into next year. largely because of the trimming
pump earlier as well on the hotter than expected first-quarter cpi print, suggesting that maybe the rba won't be easing anytime soon either. i want to talk to you about the yen as well. the bank of japan blessing -- pledging to prioritize instability in its next meeting. are there any measures that you are anticipating? will they be effective? >> i think definitely the short positioning in the yen is at extreme levels. so any comments by the bank of japan to some line in the sand for the...
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Apr 2, 2024
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we are hearing from chris, from the rba. he is not ruling anything out when it comes to the future move of rates in australia. haidi: he said uncertain when he was speaking upstairs earlier at bloomberg offices in sydney. uncertain is also what we are looking ahead to in terms of how the yen plays out, in where the intervention comes. we are under that, but looking pretty close with the dollar at its highest, pretty much its highest levels we have seen so far this
we are hearing from chris, from the rba. he is not ruling anything out when it comes to the future move of rates in australia. haidi: he said uncertain when he was speaking upstairs earlier at bloomberg offices in sydney. uncertain is also what we are looking ahead to in terms of how the yen plays out, in where the intervention comes. we are under that, but looking pretty close with the dollar at its highest, pretty much its highest levels we have seen so far this
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Apr 24, 2024
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cross that threshold yesterday when we got a slightly hotter than expect it cpi print, suggesting the rba will not be adjusting its policy anytime soon. but the yen is the one we are really keeping an eye on. that has crossed the 155 level, and that is the first time that has happened since june 1990. so we're now firmly in intervention territory. we are watching for any action from the ministry of finance, or potentially the bank of japan. they are starting a policy meeting today. that is our bloomberg question of the day in fact. will the boj or the fed move rates more in 2024? that's a question i never really thought we would be asking. but there is perhaps an opportunity here for the bank of japan to be more aggressive in what it does with rates, with the fed easing bets now, backing off more and more as the year grinds on. now, that other currency payer that we are watching there is the chinese yuan versus the japanese yen. now, this is also at a record high. this is perhaps an even more important fx peer for japanese exporters than the dollar. we see there that the offshore yuan has
cross that threshold yesterday when we got a slightly hotter than expect it cpi print, suggesting the rba will not be adjusting its policy anytime soon. but the yen is the one we are really keeping an eye on. that has crossed the 155 level, and that is the first time that has happened since june 1990. so we're now firmly in intervention territory. we are watching for any action from the ministry of finance, or potentially the bank of japan. they are starting a policy meeting today. that is our...
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Apr 9, 2024
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another sharp contraction following the contraction we saw in march, and that is what we got after the rba walked back the chances of a rate cut in australia. the next meeting is not until early may, so consumers are not feeling too good. family finances versus a year ago improved, but the view for the economy one year ahead, that contracted 2.7%. five years ahead is even worse, contracting 4.4%. buying a major household item contracted 6.6%. there is not a lot of confidence around buying a dwelling either. another big contraction in consumer confidence but at least it is a nice day. haidi: let's get the latest when it comes to geopolitics. janet yellen wrapped up her visit to china, repeating her key message on with the u.s. says is a buildup of industrial overcapacity. >> china is now simply too large for the rest of the world to a this enormous capacity. actions taken by the prc today can shift world prices. and when the global market is flooded by artificially cheap chinese products, the viability of american and other firms is put into question. haidi: our next guest says he yellen's
another sharp contraction following the contraction we saw in march, and that is what we got after the rba walked back the chances of a rate cut in australia. the next meeting is not until early may, so consumers are not feeling too good. family finances versus a year ago improved, but the view for the economy one year ahead, that contracted 2.7%. five years ahead is even worse, contracting 4.4%. buying a major household item contracted 6.6%. there is not a lot of confidence around buying a...
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Apr 25, 2024
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'rba rhtftasfast money" podct. wee ckig aer this. >>> welcome back to "fast money. stocks closing well off the lows of the session, but still down after gdp data came in well below expectations the s&p and nasdaq ending three-day winning streaks. >>> rubrik debuting on the new york stock exchange today. shares closing more than 15% higher than its opening. >>> shares of ibm down more than 8% after missing on revenue last night. the stock's worst day since 2021 and shaved nearly 100 points off the dow. >>> and microsoft shares are still higher by about 4% the call just kicking off. we'll bring you all the details as soon as they cross the tape. >>> rates surging after that gdp report the benchmark ten-year treasury yield hitting its highest mark since november. >> that after the inflation component of gdp showed an acceleration the s-word comes back -- >> are you allowed to say that >> stagflation >> oh, that -- i didn't know where she was going with that. >> maybe the other s-word, too depending on how -- >> typically what happened there is, she'll reference the s-w
'rba rhtftasfast money" podct. wee ckig aer this. >>> welcome back to "fast money. stocks closing well off the lows of the session, but still down after gdp data came in well below expectations the s&p and nasdaq ending three-day winning streaks. >>> rubrik debuting on the new york stock exchange today. shares closing more than 15% higher than its opening. >>> shares of ibm down more than 8% after missing on revenue last night. the stock's worst day...
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Apr 26, 2024
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what's ahead for the company here we'll take a look at what the street is saying da wn 'rba i2.ce target cuts toy,hewee ckn >>> we delivered a very solid q1 we met revenue, we beat on eps, we gave an outlook for first half to second half, a much stronger second half outlook, as we saw with growth across every business forecast for the second half and somewhat like the market indicates, maybe a little bit of market weakness in the first half of the year we're work through that, but we're very confident in the outlook. >> that was intel ceo pat gelsinger speaking with jon fortt about the chipmaker's latest results and outlook wall street not buying into the optimism, shares plunging on pace for their worst day since july 2020 and a number of analysts cutting their price target on the stock. kristina partsinevelos tracking it all it is quite a divergence to see all the other especially ai focused chip makers up this morning and intel getting slammed. >> it is a divergence, but at the same time it seems to be a continuing story for intel they're promising us that business will get better but
what's ahead for the company here we'll take a look at what the street is saying da wn 'rba i2.ce target cuts toy,hewee ckn >>> we delivered a very solid q1 we met revenue, we beat on eps, we gave an outlook for first half to second half, a much stronger second half outlook, as we saw with growth across every business forecast for the second half and somewhat like the market indicates, maybe a little bit of market weakness in the first half of the year we're work through that, but...