could see inflation drop below zero this morning. it's inflation day here in the u k. let's have a look at how the european markets could open today. futures are indicating stocks might open lower after a day of gains yesterday. let's check in with carolina the touchscreen. good morning. caroline: good morning. we are suddenly seeing an acceleration in the downward trajectory. this is off the back of acceleration in china. the shanghai composite is in excess of 5%. we will go out to hong kong to get the latest, but we are following asia shrugging off the green, when we saw housebuilding give optimism to equity buyers. we saw a sudden resurgence in the u.s. buying of equities. the we have to remember -- this is august. this is reduced overall volumes. up. volumes are about 16%

the last three months. we see volumes about a third lower than usual, so take it as you will. past a 200 day moving average? will we see the selloff, particularly in the auto sector, the export sector? bmw is saying that it has been hit by the terrible explosion we saw in china. ? italy is opening up 3/10 of a percent lower. there is a risk of the selloff even as we get toward that deal with greece. the finance minister of germany is saying they will back the greek deal, but it's not giving much appetite for buying equities,, or with the euro which is coming off session lows. seeing the euro lower and a

commodities base continuing to feel the pain. you are seeing a lot of concern about asia and the emerging a continuousontinuous selloff adding to the pressure in terms of thailand's economy. $50 billion or so in terms of tourism. we could see the selloff and commodities, with oil up by a tenths of a percent. trade at the moment and that is feeding into european equities. this is an oil services contract company, and you can see how it is up 2%. this is a company that is desperately tried to cut costs, shedding 13% of its workforce since december. they are seeing sales down 19%, but they are trying to up the dividend and placate the investors. they are saying that we have

this under control as oil price slumps. they are trying to save in terms of costs. john would up 2%, persimmon up. you are seeing sales picking up, but they are saying that they are ready to whether any sort of storm of increasing interest rates. they feel that mortgage demand is still there. half aon is up percentage point in line with estimates. 1.5% and its numbers are impressive, concerning their medium to long-term growth trajectory. this company is bringing in more than a billion in terms of sales. overall they are managing to leave a sweet taste in people's mouth. mark: let's get to juliet sally in hong kong. hi, juliette.

juliette: not as much of a bright spot here in asia, it has all been about the big selloff we've seen in the shanghai composite in the last hour or so heading into the close. it looks like it is going to close down by more than 6%, similar to what we saw a few weeks ago when we started to see that big selloff coming through in the last 90 minutes or so of trade. bloomberg reached out to a couple analysts trying to work out why it has come through in the last hour. one analyst is saying that it could be because we heard on friday that china's security wasn't going to intervene anymore in the market. verylso we are getting close to that technical resistance level of the shanghai a lotite, nevertheless, of selling coming from the last hour or so in china. the hong kong market is looking like it's going to close down by more than 1.2%, and we are focusing as well on thailand in the wake of the deadly bombing in bangkok. 2%, australian by

closing down by more than 1%, japan down by one third of 1%. wet just have a quick look at the shanghai composite in see where all that selling occurred. you have the oil and gas stocks which did very well yesterday, up by .4%. by nine,ls closed down technology down by more than 9%. then as i mentioned, the other big story of the day has been that selloff that we have seen in thailand, as you would expect, following that balom bing. shopping centers, airports stocks coming under pressure, and we have also been closely watching the baht, which fell to a six-year low. it is continuing that selloff

against the greenback at the moment, holding at 35.57. mark: thanks, juliette. here's a quick look at the events still to come later today. first, at 9:30 london time, we will get u.k. inflation data. is estimated to remain at 0% for another month, and remains the key data point ahead of a potential rate hike from the bank of england. 10 at noon you get time, we will get -- then at noon u.k. time, the turkish rate decision. it will be the last meeting of that central bank before the fed convenes in september. this afternoon, we await u.s. housing started a. those figures will give us the first data on housing activity in july. let's bring it back to china. a week ago today we saw that shift from the pboc devaluing the yuan, sending ripples through the global market.

it moving 3% against the dollar and today the nation continues to implement policy to stabilize the currency. for more, let's get over to hong .ong, where we are joined what is the latest moves, then from the chinese central bank? >> good morning, mark. today we had a big liquidity injection from the central bank. there is plenty of cash flowing through the system but we haven't seen any fireworks in terms of the you want appreciation, and that might .tack up really, it's all about getting freer trade.freer, we don't really know which side of that debate is true because

it will take a number of weeks or maybe months to see how much the pboc is willing to let the yuan to appreciate, so it is quite early. enda, we also saw china's fx reserves. is it sustainable? enda: well, this is an interesting question. it's quite a burn rate, even with the pboc with signs of growth. again, i think it comes back to the appetite that the pboc is going to have to intervene in the market, and to steer the currency one direction or another. somehave freighted up to extent, but they did make clear last week that they are willing to intervene during times of volatility. again, it will take time and only time will tell. last week when we reported it -- we won't know how much they will

do to keep it going in the weeks and months ahead given the burn rate. nda, we have data out of china earlier -- property data -- what is the take away? read onobably a better house prices, although the housing market there has a little bit to go yet. for aou need to look at, sustained pickup and house four,, tiers three and well away from beijing and itnghai -- some people took as a sign that consumer confidence hasn't been don damaged and others would suggest that it is less ok. given the wider economy remaining fragile, i think it remains to be seen just how durable improvement in the real estate is. ark: let's bring it back to

senior advisor -- bob. what is your reader the chinese property market for the first time in 16 months? prices have risen. what is your read right now? bob: two factors -- one is that one has to clearly distinguish between the very successful coastal cities and the speculative development in a number of the tier three or four cities, where we have this concept of ghost cities. there is a lot of speculative real estate which is still empty. i would argue that the data is, i think, quite positive for the coastal cities. asks have we got a base being formed for the real estate market in china as a whole, i would say it is early days. i think the positive comment is probably a major downside in chinese real estate. it's probably quite limited.

there is some speculation today as to why the shanghai composite has fallen that would set up real estate data. that takes away an excuse for the pboc to ease further and i would completely disagree with that. the pboc are not just looking at the real estate market, they are looking at the border economy. obviously, they are going through a pure boat of currency -- a period of currency adjustment. the shanghai composite has fallen because the pboc are not going to ease further. mark: it on the currency adjustment topic, has the dollar-yuan stabilized? it seems to have done since friday. bob: in the short-term, the answer is yes. but one has to recognize that over the last year the chinese yuan has been one of the strongest currencies in the world. prior to this adjustment, it was virtually pegged around 6.1% against the u.s. dollar. and if you look at the movement over the last two years not

just against the yen but also against some of its key competitors, like the southeast asian currencies, it has been one of the strongest. therefore it wasn't surprising that we have seen very poor export data. july export data learned many people in the chinese administration. year on year, it was down over 8%. per export figures, strong currency -- mark: overvalued by how much? bob: if you look at the parity models and compare particularly the chinese yuan against other asian currencies, even at this level, we're probably overvalued by 10%-15%. that doesn't know is going to fall -- bobmark: absolutely not. bob: but i think after this adjustment, will probably go through a period of stability. my own forecast is a range.

6.35%-6.5%. i would be surprised if they let it spiral down. and of course we have those negotiations with the imf, about a component of the sdr. think the more flexible approach will increase volatility day-to-day. mark: all the skepticism over china's economic data, which side of the argument are you on? bob: i stick to the view that the chinese economy is clearly slowing down over the long-term. what is that english? it means that this year i inc. will -- i think you will get 50% growth. there is still a lot of investor pessimism, by retail sales are growing, and 10.6% year on year. fixed asset investment board today is up over 11%. industrial production is up over 6%. all of that -- when you look at

the money supply data figures, the only member growing willing to double digit. the negatives were shadow banking, which i think the pboc has solved that problem. the negative was the real estate market, and we were discussing that. and the reason negative has been exports. the offset to china's competitiveness issue is the consumption remaining strong, posted by the liberal policy to increase wages. china is no longer the cheap manufacturing base it used to be 5, 10 years ago. but i think consumption and retail sales will be consistent with that growth. if they are having this conversation in 1217, with a talking about 5% growth. so you have this long-term glide path down. mark: bob corker stays with us.

coming up, inflation day in the u.k. lower prices could see inflation drop below 0% today. we will discuss that, next. and emerging markets continue. the turkish lira hits a record low. end of back bailout. the german finance minister urges lawmakers to vote yes. ♪

mark: let's bring you up to speed with the bloomberg's top stories. the shanghai composite is sinking 6.2% at the close as traders speculate that the government will pare efforts to crop u prop up the equity marke. shelled wants permission to fully drill in the arctic waters for the first time in three years. in 2012 afterlted a rig ran aground. they will revisit u.s. roles about exploration in the region. in a letter to parliament, the german finance minister asked lawmakers to back greece's third bailout. he says it offered a sustainable rightor the country does a lack of commitment from the imf to participate. the german parliament votes on the bill tomorrow.

that is whatn -- we are likely to see here in the u.k. when we get the inflation figures at 9:30 this morning. it's a number that will be closely watched by the bank of england governor mark carney -- take a listen. >> ultimately, our objective is not to get inflation to 0%. views onlid in our inflation. are stated objective is to bring inflation back to the 2% target. >> the bulk of the shortfall of inflation can be explained by the sharp fall in the prices of commodities and other imported goods since last year. as temporary period of below target inflation has provided a welcome boost to real incomes. >> the near-term outlook for inflation is as i said and i wouldn't be surprised if we have another month or two of negative inflation, given the very substantial moves in oil prices,

and the changes to some of the utility prices as well. we have seen big moves in oil and other commodities and changes to the utility prices. mark: for more on the data, let's bring in elliott. what should we expect from today's number? elliott: we aren't expecting any change whatsoever -- three out of 25 economists are saying they expect anything under 0%. most expect it to stay at zero. a couple of reasons -- mark carney outlined a couple. they are saying that oil prices are helping to reduce the inflation rate in the u.k., particularly fuel prices for motorists. that said, it's somewhat offset by clothing prices, but overall, things aren't filtering through. let's not forget that the pound is pretty strong against the euro.

the uk's biggest trading partner is also reducing the relative costs of imports, and all of that is keeping the inflationary environment pretty benign. mark: in terms of rate increases from the bank of england? elliott: mark carney has gone on the record that says if and when we see interest rates rise, they will be limited and gradual in their scope. to thealso referring last time since 1992 when that inflation target was first put down, 2%. he said relative to that rate it will be slow. there are some members of the monetary policy committee getting unnerved. we heard from christian forbes, in an interview with "the telegraph," saying that if interest rates remain too low for too long they would risk undermining the recovery, especially if interest rates

then need to be increased faster than the gradual path. butugh for though, inflation is unlikely to change his overall of thoughts. mark: for more, let's bring in well.-- bob harker, as simon, good morning. by the way, is there a risk that the bank of england is too late in beginning the interest rate tightening cycle? it is very difficult to make a strong case for raising rates when inflation is bouncing around zero, and commodity prices are weakening, when oil prices continue to drop. on the other hand, if we monitor what's going in the property market, not just the residential market, and also the commercial sector. if you look at each of those

areas, you are getting signals which suggest that those markets are perhaps beginning to run away. not necessarily lose sight of fundamentals, that indication that this prolonged period of low interest rates is leading to significant movements in real estate prices. we know that the housing market but indications are strong, and when we look at the construction sector, the feeling we are getting on's shortages -- on shortages, there are shortages of materials. it's quite a lot for the bank to grapple with but it is against the background of zero inflation. mark: bob, economists say that the september, 2016 -- which side are you on? bob: i would argue that the bank of england will probably raise rates earlier than current market expectations. yes, we'll know that there are

two big constraints on them raising rates, -- the widespread perception, quite rightly, that the sterling is overvalued against the euro, and ideally a weaker pound would be positive. you keepd point, as discussing, is not just a falling oil prices, staying below 54 sometime, is also nonenergy commodity prices. you look caps off commodity prices, the impact on food inflation, corn prices have halved. it's not surprising that we have negative food prices, but having said that, christian forbes's article is right, to highlight the service sector inflation picking up. i think your comments on what's happening in a low yield environment with money going into, probably aggressive money going into the real estate sector, i think there are grounds for raising rates

cautiously and slowly. go upk to my view that we a quarter of a percent at the end of the year, beginning of next year. earlier than the market consensus. having said that, by the end of 2016 google probably be at 1.25%. mark: the london housing shortage is mirroring what's happening nationwide. the shortfall is something we have been tracking -- it's not a new story. we found instructions following from our members 11 of the last 12 months. we are well aware of the shortage but there is no secondhand stock coming through. it is leading to very much a rise in demand, and that is part of what we are seeing. can the market withstand a modest rise in interest rates? i think it probably can, because

so many people are looking in on fixed-rate deals. however, we have been surprised by this prolonged period of low interest rates. i would go along with bob in terms of his deal, but we could be surprised. i think the market would become a bit -- we look at the substandard valuation metrics and we are a long way from historic norms. mark: bob, simon. bob will stay with us for another section. of the countries of bank meeting will decide on rights and emerging-market currencies -- the lira is hitting a fresh record low. details after the break. you can always follow me on twitter. simon and bob are also on twitter. find bob. i steer clear of it. mark: @markbartontv.

why should simon and bob would be on twitter question mark that is my question of the day. the question -- will inflation stay around zero? will the bank of england raise rates question mark would do you think? ♪ the only way to get better is to challenge yourself,

and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20.

it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. mark: welcome back. we are 30 minutes into this tuesday trading day. let's see how things are shaping up. stocks are up today for a second day. the thumbs-up to the third greek bailout. german finance minister has previously been a critic of the deal. , a macro day for u.k. inflation. in chinaterest rates housing data, which of course have passed. let's get some of bloomberg's top stories. chinese stocks telling the most in three weeks in today's session, the shanghai composite

sinking 6.2%. traders are speculating that the government will pare back efforts to prop up the equity market. the german finance minister asked lawmakers to fight greases third bailout. he says it is supporting a sustainable path for the indebted country despite a lack of commitment from the imf to participate in the deal. the german parliament votes on the bill tomorrow. the shockwave is spreading from yesterday's deadly blast in bangkok. fell, and theet council is already seeing cancellations. at least 20 people were killed during the blast in russia. let's get to caroline, who has been following the market reaction to the bombing in bangkok. caroline: we are seeing some phenomenal news across the board. it is always a tough choice to have to be able to talk about

the business implications of such tragedy, but this is what we need to focus on. after 20 were killed, we are seeing ramifications across the market. this is the u.s. dollar, currently rising against the thai bhat. it is up by 2/10 of a percent, coming off original lows. we are seeing moves out of the thai foreign currency. we are also seeing the stock market sink, the most in eight months. the big hit came to those stocks related to tourism. one group operating luxury reports that a highly is seeing a, lot of damage. also thai airways international

is up by some 6%. ahead is coming to tourism, because where the bomb went off was surrounded by hotels and malls. and also tie local people being hurt. hurt,i local people being as well as visitors. the powerful blast is showing that perpetrators were trying to hurt foreigners. this is what the army chief in thailand is saying today -- "when you have the hong kong government telling its own citizens to delay nonessential bangkok." the foreign ministers also condemning the attack. this is crucial because tourism is so crucial. a few key facts -- tourism is 10% of the national economy in thailand. it attracts about 25 billion tourists per year. -- 25 million tourists per year. of $51 billionne

and how much the government fought tourism would bring in this year. already you have a slowing economy, local demand being hit, exports being hit, and an area that has 10% of their economy being dealt a tragic, deadly blow. it is feeling ramifications across the world, notably in terms of the markets. mark:. thanks. let's get to turkey. they are meeting amid political and market turmoil. the lira is at an all-time low against the dollar. are middle east editor elliott gotkine has more. record lows for the lira, the government pressuring the central bank to hold firm. how tough is the decision to predict today? elliott: it is very tough, mark, but luckily, i'm an economist to have to make those protections. that three of them out of 17 expect interest rates to rise, and we are talking about the bank of turkeys main

benchmark, currently standing at 7.5%. the reason for this is more to do with politics and economics. we received a tweet from the president's chief adviser saying that the central bank should raise interest rates and shouldn't target a specifically relate, and that the lira will ity the competitive when gets near the dollar. he also tweeted a realistic exchange rate. the last time the turkish lira was this weak, the central bank in turkey moved to do an emergency rate increase, same -- that will increase the price of imported goods. that said, mark, there is a

possibility that the central bank in turkey they raise its rate because it wants to simplify the framework, but it will not affect overall monetary conditions. mark: on the political front, coalitions are stalling -- what is the latest? elliott: we were talking last week about the main opposition, talks with the nationalists mhp have collapsed and reached a dead end. the prime minister has now handed back the authority, if you like, regarding the election to the president. he is expected to call for fresh elections. the official deadline is august 23. usually you would expect to have the elections in turkey over the next three months. some are talking about how it may be happening earlier or later. all we know for sure, mark, is that the insurgency isn't going to do much for sentiment toward turkey and probably won't do

much to bolster the lira. mark: thanks. let's get thoughts from bob parker. turkey has a current deficit which has been shrinking. bob: very slowly. mark: but at least it's going in the right direction. malaysia has its own political problems. thailand -- yesterday's tragic event -- you are familiar with all three emerging markets. which one, which country worries you the most? bob: i think the overall theme is, first of all, those emerging economies which are commodity exporters. and it's not just energy -- brazil has a problem with the low level of oil prices, for example. those that are commodity producers, i think, remain under pressure. those that have got political uncertainty, such as turkey, which discourages capital flows,

and turkey is very dependent upon capital flows, likewise will remain under pressure. and although the turkish lira, by any criteria, is now undervalued and oversold, it is probably going to stay that way until there is a turnaround in the capital. and to get a turnaround in the capital, you need political certainty. same in malaysia. it has been hit by low oil prices. the malaysian current-account surpluses under severe pressure. or itors are hoping, think turned off, by the various political developments. mark: exactly. bob: and quite interestingly, if you look at the situation today relative to, let's say, 2006 or 2007, today investors are very underinvested in global emerging markets, whether it's the currencies, whether it's the equity markets. and there is this investor intolerance toward any political uncertainty, toward any corruption. it drives money out of the markets.

mark: is there a link -- you mentioned the early 2000 stash is there a link between 1997 and now? bob: i think there are very big differences. if one looks at, for example, the asian crisis in 1987, economies that were under severe pressure like thailand and korea, which had to go through imf, they all have fixed currencies and they had very significant current-account deficits. they also had reserves under pressure. generally, the reserve levels are satisfactory, and i think they have learned the lesson that asked currencies are about idea. the slide in the turkish lira, the pressure downwards on the relation to the ringgit is a positive release valve for these economies. mark: can they withstand the devaluation in the yuan? there's a knock on effects from

the devaluation -- tell us the story. knock onink the effects from china's devaluation -- let's be clear, the devaluation so far has only just been over 3%. this is very much a mini to valuation. up,ome extent it is a catch how overvalued the.yuan was against the other asian currencies i regard this as a catch up. clearly it means that economies like thailand, which is critical in the auto sector -- caroline was mentioning tourism, that thailand is now a very important manufacturing base -- clearly takes away some of their competitiveness. it means any rebounded currencies, political uncertainties aside, is not going to happen. mark: bob parker. still to come, we will hear what the chief executive of persimmon has to say about the effect of a rate rise. stay tuned. ♪

mark: i mark barton, and this is "on the move." elliott is here -- what are you watching? elliott: some of the biggest movers -- the u.k. gambling group has been upgraded. also a bit of a bounceback after some decline following recent earnings. sales for lloyd has been upgraded by morgan stanley, ahead of earnings, up by 2.4%.

in the u.k. housebuilder is up by 1%. a good set of results and analysts are pretty happy. guy johnson is going to give you more details in just a few moments. guy and caroline spoke to the persimmon chief executive earlier, asking him about the impact of a pending bank of england rate rise. >> we do think that there will be a rise at some point in the next year, but everybody is checked about affordability. certainly there is still good affordability in the marketplace ath interest rates good rates and still trending downwards. guy: talk about the operations of the business. we heard talk yesterday about the inflation rate, the contracting wage story. what do you think?

what does the input costs story look like? >> good morning. we are seeing some inflation, but certainly in skilled resources, as the economy pushes on, skills are proving quite challenging. so we are training more people. but in the short term, we are toing some input costs rise .5%-3% over the course of the year. the majority of that really is in that labor cost, which is being pushed up through shortages of skilled resource. caroline: the call at the moment, of course, has been multiply, multiply. we need to hundred thousand if not more homes built per year. is the shortage of skills in any way going to limit that, or do you think we will actually start to pay the amount of supply we need? >> well, as you say, demand is good, but we haven't responded to the demands of 2012 when we

launched our 10 year strategic plan. we have increased our build substantially, so the volume of houses we are constructing has increased by 48% since 2012. i think the industry is responding, but it will take some time to get back to the levels that we would hope to see going forward. certainly, we are working hard to meet the demand that we are seeing at the moment, and we will be pushing on again in the second half of the year to further increase the number of houses we complete. lookingyour website, around the country, you have developments across the whole of the u.k. where is the sweet spot? the price and geography? >> i think the good thing is that we are seeing good demand right across the country, so we focus on making sure that we have a good source of houses for sale. we did a predominantly in my first time mover bracket, which

is well supported in the mortgage market. we see good demand right across the care -- across the u.k. andave 26 around the u.k. they are all operating very efficiently. i wouldn't single anywhere at the moment. i think we see a good demand right across the country. guy: how much of that first time buyer demand is driven, helped by incentives to get this space moving? if it were to be removed, what would that do to the market? >> i think the positive thing is that the lenders are responding. we are seeing better rates available on the higher loan-to-value mortgages. towould certainly help support those first-time buyers gap iners to bridge that terms of the deposit that is required, to actually access the interest rates -- but you can of pretty good availability

high loan-to-value mortgages, 3%, 4%. it is certainly the product of choice at the moment. mark: guy is here and i have just discovered something fascinating about guy. guy: it is not a secret. mark: tell our viewers. guy: i used to work on the building site. look, these numbers were good. the problem is are they good enough to generate the upgrade cycle? particular are very strong and certainly ahead of expectations. the stock prices up. i think that's the point -- valuations are starting to get stretched, and that is what the analysts are reflecting. the bulk of them have a hold on the stock. you don't necessarily want to buy any more. mark: is there a postelection sigh of relief?

guy: definitely. and it is well supported. it is still a very big positive in the market. the interest rate story is unlikely to act as a major break. macro rules are probably more important than the gradual trajectory of interest rates being held by the bank of england. it will be something that the people get used to. so things are good, and they are going to be upgrading their expectations going forward at some point, they just didn't do it today, and i think that is what kept the market on hold. mark: if you bought the stock in 2012 or five pounds -- guy: you had a great run. but are valuations are starting to get stretched. and input costs are factor. you have to pay more for subcontract labor, but nevertheless, the input cost is going up. energy is a big component.

you want the concrete and all these things -- energy is a big component, and labor cost is probably the biggest factor. that brings us back to the interest rate on the bank of england. guy johnson helped build this wall -- it is on a plaque somewhere. cheers. still to come, softening the views toward greece. what hurdles still remain for the latest bailout. have a look at where you will find us on twitter. @markbartontv. are you heading to winchester? finding the wall with a plaque? leave the wall alone. [laughter] ♪

mark: welcome back, i mark barton in london. minister finance wolfgang schauble says he will back the bailout -- let's get to berlin. hans is there -- what are the takeaways from the finance minister? well, it's part of the

campaign market, by angela merkel and her finance ministry, to convince the party to support this vote in the bundestag. it is expected to be north of 100 -- they aren't going to lose it but they want a strong showing. yesterday, he wrote the letter and talked about a sustainable path. interviewlked in an about what the imf will be. the germans continued to insist that the imf will be involved, in he's sure that the imf for contributed the program, he said in an interview. "just as we declare this to be indispensable." has is a country that demanded specifics, demented enforceability, demented credibility. but on this issue they are taking a leap of faith. they insist that the imf will rejoin the program in october. all the imf has said is that as long as greece follows through they may rejoin, in there has to

be some sort of debt restructuring, debt relief. here is all that germany had in terms of imf participation -- this is a letter from the european stability mechanism to the bundestag, saying that the imf contribution to the financial assistance is at this stage undetermined. mark, take a look at some of the public polling. 57% of germans want the bundestag to vote against this. they have done some surveys. then you get to this crucial question of whether or not they believe greece will follow through with commitments. only 13% say they will implement the proposed referral or. -- proposed reform. this is the situation we are at today. they are trying to get everyone to go forward. it will have some important gs, and they are clearly publicly saying they want to see votes from their party on this. mark: hans, it doesn't end with germany.

other national parliaments have to pass the bailout -- which ones? hans: well, we have spain. they don't have to bring it to parliaments -- spain, the netherlands, and estonia. it is really those for you need to watch. -- those four you need to watch. hans, good to see you -- hans nichols in berlin. here's what to watch for the rest of the day. -- estimatedn data to remain at zero for another month. new, we will get the right decision from the turkish central bank. the lira hits all-time lows against the dollar. we await u.s. housing stats. those figures will give us the first hard figures on how the -- on housing activity in july. equity markets, stocks are falling. they fell last week on china's devaluation concerns.

you can always follow me on twitter -- this is where you will find me, @markbartontv. what is on your mind today? tweet me. you never know what i will say back. ♪

plunge the most in three weeks on the concern of a strengthening property market. ands: the bart weekends tylan stock market falls -- thailand's market falls after the attack. francine: we get the figures in half an hour. welcome to "the pulse." i'm francine lacqua. manus: