let's look at the aussie dollar.g, but it does remain at that all-important level.70 it is almost step-by-step on this downward path. about this correlation. i think 3, 6 months out, it has been pretty much lockstep, as you would say. reporter: yes, this sort of thing that mathematicians get very excited about. if you look at the australian dollar side-by-side, that is up 10% as well and they do match each other very tightly. 9.1, whichtion is would mean, as you said, they are moving in lockstep. depended is china on exports? it's a very important matter. it also makes for rather exciting headlines. there has been a lot of hysteria and hyperbole about the aussie dollar feeling pain. but you have to remember that the bank of australia has desperately wanted this for so long, they are trying to job own -- jawbone the australian dollar down. >> exporters are in trouble when the australian dollar was that it parity with the united states dollar. we can cope with the currency having continued support because it will and p

we take a look, this is what you have on the aussie bonds. we take a look at what is happening in a two-year note in the u.s. an interesting move here, the u.s. 2-year note has its deepest drop in two-year treasury yields since 2009. you see the move there for the u.s. yield, earlier in was about 13 basis points. work, we'll get to work later. angie, let us take a look at the commodity markets. you see the goals, these are investors closely betting on whether the fed will move the next meeting -- basically a month away. see gold advancing today, investors generally using gold as a hedge against inflation. right now, they see it as a favorable asset -- gold coming to the highest in two weeks on renewed demand for that haven. trading on the house. we should see limited pullback on the oil prices, trading in london looks like this today. crude, it ist the trading at $49.29. that is the crude in new york, it is down $46 a barrel. we keep a close eye and watch angie on the commodity markets and currencies, to round of the week with the federal res

we have the aussie dollar. in is thising territory. up i .8 of 1%.did hear from the economy minister. not liken selloff is what we saw in 1997 or when lehman brothers collapsed. in health care stocks. a very different story in china. they're down by 2%. seeing a bit more on what is going on with the economy. growing and have to paste economist had been calculating here. thatg his reaction to growth slippage. see how he explains his government's stance. strong job growth is contributed to the fastest growth in household income since 2013 and it has lifted retail sales. the sales are underpinned by an investment in housing which is 7.4% higher over the past year. inthermore, we saw a rise building approvals to near record high levels. indicating there is more construction to come in the months ahead. we saw the first overall increase in construction in last 12 months. we are building more factories and offices today which are of sitting the slowdown in mining constructions and we have experienced over the past year. away from aon reliance on mining inv

the aussie doubt -- the aussie $.70. at a stronger euro less week. we kissed 1.17.ker euro this morning. by 0.52%. for two 350 mining index down 6%. say, we canased to get over to the frank for banking conference where hans nichols is standing by with the guests. go i'm standing by with a -- hans: i'm sending by with the guests. he is a important guy. he has insight about what is happening in this economy. we have seen the stock market's life. what is that going to do to growth in germany? >> we take it seriously. our car and street has a big market in china. we are not hesitating, because we do not see much of an impact. growingstic growth is a when it comes to writing salaries and pensions. we are doing very well here it hans: when you say you do not see an impact yet, a lot of this negativity happened in the last week or so, there would be a lag time in data. >> we will see that. we have a low interest rates. we have a lot of progrowth as well. we'll see what comes out. it was not reflected in the last quarter's gdp. how concerned are you that there is not going

aussie dollar, originally pushed higher. a stronger aussie off of the back of the rba decision.a flat aussie. wti is lower by 3.2%. a big three-day search, the biggest three-day for crude and 25 years. 27% higher. it had been at a 1999 low. it is down by 0.8%. a week, big story. it might have been inconceivable for oil to drop below $50 a barrel and still be in a bull market. that is exactly what has happened. opec says it is time to achieve "fair and reasonable prices." let's bring in james. moveil glut, i look at the and i see this big what you can call a short squeeze. i will ask at the fundamentals have changed? has it? james: i do not think so. web seen new data from the u.s. sure production is lower. opec has made these statements yesterday about talking to other producers and that is new. an official position of theirs. they have been trying to for a long time. they had a meeting in november before the end of a new strategy that led to the price drop. they spoke to russia and mexico and nothing came of it. jonathan: do you think it will have an emergency meeting at this t

as you mentioned, the aussie dollar is under pressure.

, probably the aussie.what should we look at going ahead? michael: i think for now data,ng, any growth equity data is doing quite well. any leading indicators that we will be focused on, obviously, with china and commodity prices and everything like that, it is going to be directly focusing, directly impacting prices in the asian day but with europe coming in, they have a different bunch of problems to deal with. the day is being broken up three ways now. it is not just a recurring theme that hangs over the market because their air more traders to consider. are more traders to consider current mr. stevens at the moment is referencing last night -- consider. mr. stevens at the moment is referencing last night. if he does that you will see bonds up for a little bit and the aussie might rally what i would not say that. -- but i would not say that. angie: we will leave it there. our first word fx reporter out of sydney for us. a tech news, apple has won force samsungght to stop using features in tablets. we are

a slowdown in exports weighed on the aussie economy.household spending helping keep the number bo zero. oil has continued to slide. brent below $50e a barrel. w.t.i. below the $45 mark. a u.s. government report out later is likely to show that stockpiles rose by 900,000 barrels last week. the world's biggest independent oil trader said crude will next $40-$60 a barrel year. live pictures from you. live aimages coming to you from images coming to you from s of migrants. this is the second day that the hungarian police have blocked migrants. this story has been all over the european and the british news for the past 24 hours. major news stations are camped outside there. this is the single biggest issue on the radar of european politicians at the moment. let's check in with the single biggest issue for investors at the moment. how are markets doing? you have to understand. this man can explain it to you. jon? jonathan: thank you very much, manus cranny. we started september in ugly fashion, down another percentage point. we were in positi

where's the aussie dollar heading for the rest of the year? >> look, it's obviously in the very short-term be holden to the chinese market developments and the like but we think the next few months the fed will commence lift off looks unlikely that it will happen in september but we expect it before the end of the year so we've had a forecast of 70 cents by the end of the year and sub-70 in the first quarter of next year. >> thank you for joining us. senior economist at national australia bank. >> now canada's second quarter gdp out later today could show the economy entering a technical recession. this will be a key debating topic ahead of the federal election on the 19th of october. the central bank is unexpectedly cutting rates twice this year. and a third monetary policy boost could be on the table at next week's central bank meeting. >> google and sanofi are creating a partnership. collecting new tools to analyze the disease. stefen has more on this interesting partnership. over to you. >> good morning. each company will bring it's own ex

the lower aussie dollar is a pretty -- is a precondition.asing and another rate cut in the year ahead what help corporate australia recovered. rishaad: george, nice one. george boubouras. interview that people been to hawkish and the fed should not move this year. let's get to the stories making headlines. singapore, for the first time in there will be at least two parties to choose from. the people's action is more than likely to retain its power. is hoping tor capitalize on the surge of patriotism and last month's independence celebration. we will have full color desk coverage. indonesian president at harder work [indiscernible] it will force thousands of villages to leave as the reservoir feels with waters. the second time jokowi overwrote local demands. refusing to sell their land. sad tont xi jinping as be written debt is said to be real announcing -- is sad to -- is saidhe biggest i - biggestnce the makeover of the military. up next, this guy is high when it comes to alternative investment. we tried to speak to earlier. the ceo of one

they have been trying to shop down the aussie dollar for a long time.oost in terms of trade. helps boostost -- education and finance as well. in terms of transitioning the economy away from mining, this is music to the ears of the bank. angie: paul allen allen, thank you for that out of sydney for us. not surprisingly, the volatility in china came under scrutiny at the g-20 meeting. it resulted in finance ministers issuing one of the most firmly worded statements in years, agreeing not to engage in battles over currency. we have the details from antara. thehe main focus was chinese presentation on how they will stabilize the economy. the japanese thought it was not detailed enough but most delegates were satisfied. g-20 agreed to a communique where all countries agreed to refrain from competitive evaluations. -- the evaluations -- devaluations. stanley fischer stood in for take onllen and give a the jobs report, a piece of data seen as critical in determining when the rates will go up. you could say his evaluation was mixed. isie spoke last, saying if y

watch the aussie dollar it's interesting. in speeden about 4% chinese currency was devalued. it's at a six-year low today. the treasurer of australia made it clear to me that he thinks that the devaluation -- if you look at really what he was saying -- of the aussie dollar is helpful and welcomed at east in terms of making their exports more attractive. jonathan: ryan chilcote, thank you very much. let's bring back in guillermo of european asset allocation at barclays. i go to the raw data and a bring up your chart of the percentage of exports that china accounts for. australia, 30 5%. we have talked about korea. the eurozone less than 5%. icg been at about 15%. if that is a dovish mario draghi and a lot of that was about china, what on earth does correct to say -- korota say from the boj? is worrisome for japan and he and i think one has to it knowledge the risks here. haveisks he spoke since increased. we still think they will keep the program but clearly monitoring the risks very closely because things are clearly changing. they may change quickly in the next few months fo

what does this mean for australian equities and the aussie dollar?both equities and the aussie dollar are caught between what the fed will do next week and what is going on in china. the chinese sharemarket has been underperforming for years. i do not see that changing anytime soon. 20% of our exports are iron ore, and that has been stable, stuck in a relatively narrow range. the situation for australia has not changed dramatically. obviously, if the chinese economy keeps slowing, that would be bad news for australia. but the currency is rebounding. a lot of the growth is coming from stocks on related to my -- mining. on that front, i think the aussie dollar has more downside, heading towards $.60 or possibly lower. angie: that is the call from shane oliver, joining us from sydney. plenty more to come. ♪ angie: you are watching "first up." the philippines will roll out nationwide free wi-fi next year. the government will spend $32 million annually to link schools, hospitals and airports. it is expected to drive down the cost of data access. china's b

the aussie declined for the past two months, pushing a six-year low yesterday. the kiwi dollar managing to hold at 62.80 u.s. .3% cents. they're holding a policy meeting on thursday and the central bank is expected to cut the cash rate of 25 basis points. let's take a look at chinese reversedcause they losses earlier in the day when the trade numbers came out. they rose and they were unable to hold onto gains and are now down .5%. still, last time i checked, small caps in china are rising for the second consecutive session. member yesterday that -- remember yesterday that it was the first one to rise in a week. . shares are trading higher japanesethe revised second quarter gdp was marginally better and quite a bit better than the economists have been forecasting so why is it flashing warning signs to investors? here we break down the numbers. zeb: 1.2% was better than the market estimated and better than economists had forecast but what is hidden in the numbers is the fact that inventories are very high. you have the inventory risking the rebound hurting the pot

matt aussie dollar floating with cents.. since -- angie: the hong kong monetary authority is having to again more dough. juliet: it is trying to keep the hong kong dollar from breaking out of that strong and of the u.s. dollar. yesterday the monetary authority in hong kong but $2 billion of the currency. at one point, that came late in the afternoon. it is definitely on the upper end. it is the first intervention and four months. at the moment -- we might see a pickup in japanese stocks today because of the fact we had that big selloff yesterday. looking at a stronger, i think the only support we will see is in gold stocks today. in hong kong, looking like we will see more selling again. september is not off to a good start. angie: indeed. thank you so much. checking other headlines -- shutting their eyelashes -- fluttering eyelashes at new zealand. say kiwi companies could save money in a dual listing as they will not be required to submit a perspective until next week. they are looking to expand australia's trillion dollar

we are more or less at session low for the aussie dollar. yvonne: some disappointing information coming out of their when you factor in pmi. i was talking to someone from jp morgan and they said it is serious. growth isnstrates how struggling for momentum. the economy is struggling to get interesteven after rate cuts since november. even after the central bank has taken a lot of steps to try and get lending going. they are funneling credit into infrastructure to try and get real activity on the ground. are someow that there mitigating factors, we know there are still big factory shutdowns on september 3. the authorities wanted clear skies to close down production, but that does not explain everything. the manufacturing sector, and the factory sector remains stuck in the mud. they are suffering from deflation, and falling exports. the real growth drivers of china's economy are struggling. the new engines, services and consumption, while they are doing well, and better than historically, it is still a not to fill the gap. normally good news --

i am talking about the aussie dialer that's the aussie dollar and canadian dollars. , one ofopic of china declining stocks in europe has been glencore. big news out of the commodity minor. ryan is here. let's start with the price. how is it reacting? the commodity -- the commodity producer and trader. talking about interest and riskier stocks. that is exactly what glencore is. that is after they announced they are going to sell shares and sell some of the assets. they want to trim some of their debts. up close to 12%. they want to do that in order to trim their dirt -- there $30 billion debt. they want to trim it to $10 billion. mark: that is the situation with juncker, the biggest decline are on the ftse. has revoked the emergency measures that have allowed more than 12 million people into the country and through to germany. policymakers across europe continuing to struggle with the crisis did here's is a taste of the weekends the liberation. over.e for blame games is it is time for making decisions, turning decisions into actions and doing it united. >> it makes no sense to have a publi

the aussie dollar has declined for the past two months.ar is trading higher after declining for four months. currentlyse yen weakening slightly for the past two sessions, a little stronger than earlier in the morning after gaining for three consecutive weeks. let's take a look at what has moved in the japanese markets in the morning session, before they went on break. pioneer rising more than 11%. the electronics maker began collaboration with a german company to develop automated driving maps. up despite a report saying that the supplier should benefit from the release of iphone models. rishaad: there is little to no doubt that china is slowing and a report says that it might be permanent. foreign business welcome talk of theym but no basic -- now say that the momentum has been lost. it feels like one step forward and one step backwards. problem that we have is the messaging from the central government, too many conflicting messages. stephen: through this turmoil, has reform been lost? would say so.em that there must be so much pushback i

a different story for the aussie dollar though. it has been gaining. almost in line with china's tumbling shanghai composite. although last week it fell, today it has regained some momentum after reopening trade, so we are seeing it again for tenths of a percent, but still under's seven d u.s. cents. back to you. -- still under 70 u.s. cents. rishaad: now that campaign for coal. australia hope to talk the benefits of coal as an energy source. it has thehashtag #c oalisamazing. what on earth was the minerals council thinking here, paul? tol: i think they are joined point out that they are not evil, just misunderstood. has been an, coal important part of australia pro economy. it is the second most exported, 71% of australia pro energy. predictably it did meet with ridicule on social media, one saying that doctors once promoted smoking cigarettes. theher that it is glad that industry is realizing the 18th-century potential of the energy source. another said that it's amazing at blogging moms, landscapes, and. another example --coal raises temperatures, d

jonathan: to australia, a different picture for the aussies.he unemployment rate dropped back slightly. have we seen the week in the -- peak in the number of jobless going forward? iain: there was some discussion that may be the jobless rate would go higher because of government changes. that did not happen. economist are saying maybe now we have seen the peak in the jobless rate. it will now hover around 6%, we have pretty healthy employment gains over the last month. more than three times what economists were expecting. part of the reason is because wage growth is so weak. that is helping employers keep staff. jonathan: thank you very much for joining us. meanwhile, it is back to junk for brazil. they lost their investment grade that they enjoyed for seven years. the downgrade highlights the economic challenges facing the country, and many other emerging markets. here with moore's caroline hyde. ,aroline: you are cut back brazil currently faces negative. there can be more pressures coming. as i said, after seven years, returning to junk statu

general government sector net $238.7rns out to be billion aussie. some pres on the aussie as a waiting thee are economy as china takes a slowdown. let's turn our attention to hold line -- to volkswagen. they say that winning customer trust is key after it was exposed as having cheated on u.s. air pollution tests for years. what did they do? fittingjust admitted to u.s. vehicles with software that only when then on car is undergoing official emissions testing. when you are driving the car under normal conditions, they times the 10 to 40 legal limit. desk involve relations these violations could add up to $18 billion in fines. the justice department could also pursue prosecution. they have endured -- they have ordered -- volkswagen has ordered an internal investigation saying that customer trust is key. angie: and they tricked all of the consumers who thought they were doing well for the environment, buying these cars. shery: exactly. about half a million people of bmw and audi cars. these so-called clean diesel engines were fitted to be modeled. the

what is interesting is in australia the aussie dollar. i want to show you that because the australian dollar has been moving on this in lockstep with -- almost in lockstep with the chinese economy. when chinese stocks failed to turn positive, even with authorities trying to prop up prices. today, the aussie gaining slightly today. the shanghai composite is losing momentum. it is still at 69.20. below the seven cents march. i want to look at the shanghai composite because we had a news report finding chinese cost.tors that it may analyst saying that loses stocks in early trading around 32.16. 10 minutes into trading. it is currently losing some of that momentum. i want to take you through some of the chinese stocks that have been making headlines today. one of them, byob is an automaker. while they surge in morning trading they are currently up by thereause they signed -- was a contract for 10,000 units. we are seeing some operators saying that the macau vip market may never fully come back. hong kong property prices have been soaring rece

aussie currency. brendan: jon why did you move to brazil when you had the chance? jon: let's not have that debate. brendan: we are close to 3.07 on the yuan. jon: for brazil, there was a big credit boom over there for the last five or 10 years as well. the slowdown there is not a shock. it has been developing for the last several years. we have to get used to this. tom: quickly, what do you learn in the european stock market this morning as we look for the dow to open? jon: keep it short. stabilization. tom: i like that. jon ferro, thank you so much. he is into this new one-word response to my question. i hate the guy. michael regan is joining us, and kate moore from j.p. morgan private bank. mike: i would like to bring it back to the vxix. the volatility is becoming its own catalyst now. a lot of the focus is coming to these risk parity strategies, in an attempt to outfox your traditional 60-40 pension style investment, they create an ideal portfolio to reduce the sharpe ratio, and then they lever up

. >> not should it taken my aussie friend seriously when he reacted saying what we eat their meat so 9.why not wear them on your it's very popular over there and they have several dishes including kangaroo tenderloin and kangaroo figures. >> i read an article that it was called a vegetarian it was apparently vegetarian only to kangaroos. the kanga terry and. >> not everybody has a case or the use of the rooms. i asked peter about the line of loafers and they got back to me apart saying anybody skipping out in these loafers is taken a step back in time. today's fashion is is all about vegan for and begin leather. the sight of their furlough can sicken anyone with a conscious. >> i'm sorry, i don't like going to put that on my feet. >> when their overprice, to their hideous. >> i don't care if you like or don't like it i'm not put that in my feet. >> governor chris christie and saga continues. and then they became friends now they are enemies, i don't know. does jon bon jovi also get mad because you talk about restring springsteen question mark. >> he never told me he hated you, but i

the decline in the aussie dollar has boosted tourism. sustralia has cut rate twice this year to nearly 2% to spur investment and consumption. let us check out the asian pacific. there you have it. it is red arrows, as i said. and this was the late start of the day, off of japan's selloff leading the way. it is down 1.5%. south korea as well, we have central bankers making comments this morning. equities down 1/10 of 1%. really a culmination of reaction after they released the statement, janet yellen takes questions from reporters in the news conference. here's a bit of what she had to say. janet yellen: the central open market committee reaffirms the percentage target rate for the funds range. since the committee met in july, the pace of job gains has been solid. the employment rate has declined. marketrall labor conditions have continued to improve. inflation, however, has continued to run below our longer-run objective. partly reflecting declines energy prices. we still expect that the downward pressure on inflation from these factors

it's interesting to note that we saw a spike in the aussie dollar coming through.havee seen that dollar hold today at the six-year lows below 70 cents. it did well today -- it was the only one that we have seen higher. they closed up by 2/10 of 1%. the nikkei 225 is the worst performer in the region, down by more than 2%, because the yen is rising. everyone is getting into safe haven assets, a lot of export stock weakness. the regional benchmark indexes on track to close lower for a seventh week. that is his longest losing streak since june, 2011. we still have china closed for a second session in hong kong came back online, down 7/10 of 1%. investors are looking ahead to that u.s. payrolls number and xious, and what will happen when china reopens on monday? a lot of speculation that they will stay backed. that is why we have seen quite a lot of nervousness in selling in the asian region today. anna: thank you. monday could be a nervous one. china will be back trading. thank you. guy: one place to be on monday morning -- watching "countdown." caroline hyde has the

but the aussie dollar versus the u.s. dollar. we hit that down here, a fairly significant moment there. we popped up above the line now. but nevertheless, weakness continuing to be the scene. running through the currency, i want to show you what happened. you talked about the late turnaround in shanghai yesterday. stocks around the world got absolutely hammered. today, we are bouncing back. positive a much more session, this is the dow jones and the s&p 500. they will open up a little bit stronger on the dow average, 1.4%. we will understand the european session in a bit. the: what is historically worst month of the year for trading. september is the worst month. and we saw those markets down more than 2% -- nearly 3% at some stages. technology, oil, banks -- all of those maple sectors falling. picking up on the weakness in china news, we will talk later the program how they are saying structural changes, the cut down on giftgiving by the chinese authorities. guy: and we will talk about abs olut vodka. a little early for a bloody

i look after the aussie dollar. this is what you have.olding up will generally given the fact the data out of china has been very disappointing and major trading partners. look at the chart of the aussie cents, it hasu.s. reversed course. a strong session added the open. the currency will will want to follow. in japan, telecom shares have been big movers today driving the original benchmark it lower because of the japanese prime minister said he wants to take a closer look at pricing how consumers are built by the -- billed by the big mobile companies. down in the tokyo share market. beging lower as we another trading week. china and everybody's focus today. anna: zeb eckert joining us. the european equity markets open up for the first time this week. what are the futures look like. this where we look to open. a patch of green and that may suggest the european equity market will shrug off weakness we have seen in the asian friday'snd focus on session in the united states. playing catch-up with the u.s. on that. that is the value across th

the aussie dollar, the norwegian krone. take a look at volatility. you mentioned the vix, 33.5% gain. august, a record month for the vix. it had been 15. shares outstanding, market cap, etn, tracking a reverse vix. it shows it will come down. other measures show opposing views. we've had such a spike in the volume in the shares outstanding in this particular etn. joe: thank you for that. alix: i want to take a deep dive into my terminal. this orange line is what the futures curve is now for the vix. the green line was the futures curve for the vix three months ago. you can see this huge jump in volatility, between 18% and 20%. a hugely steep curve, 26, 27, down to 22. joe: it really tells the story of the quarter. another chart, i want to go into my terminal, this is basically looking at the average yield on high-yield debt. this is a bloomberg high-yield index. it is now, yields are at the highest level since 2011. this is the story. spreads have blown out across high yields everywhere. we sell this in energy, now elsewhere, people dumping everythin

and what i'm interested in is is the aussies who for so long have been stalwart u.s. allies. what are they thinking now that the u.s. is turning a blind eye to this kind of chinese aggression? >> again, another good point, australia is bought with the united states in every single conflict since world war i. if you're an ally of the united states, in the south china sea area, you have very grave concerns, you do not know what the united states -- the reason in the u.s. we need to be concerned about this is the international community is against this expansion of the policy. >> they're looking to the united states for leadership. >> there is no leadership on this issue. this stretches from australia to japan and all the countries, philippines, singapore, et cetera, all have a stake in this. many claim sprattly, but the u.s. to not show leadership on this issue, there is no foreign policy and not having a foreign policy is not a policy. that seems to be the white house policy now. >> we'll see what if anything comes out in terms of policy over the next couple of months. command

>> reporter: why is a 17-year-old aussie, outback animal lover, high heel hater, dancing with derek, risking a turned ankle and a bruised ego on "dancing with the stars"? she's here because of her dad. >> dad always said, i don't care if people remember me, i care if theme rememberpeople remember my message. as a family that is what we've tried to focus on. standing up and speaking for those who cannot speak for themselves. so as a family, i think that it's probably two weeks after dad passed away that i said to mom, when are we going to start filming again? >> reporter: dad was cultural icon steve irwin. >> oh, crikey! >> reporter: host of the smash national hit "the crocodile hunter." >> he's constricting my head. >> reporter: steve was a human hurricane. >> whoo-hoo! >> reporter: killed by a stingray in 2006 when bindi was 8 years old. >> is it ever in the back of your mind when you're wrestling a crocodile that something similar might happen to you? >> it's never really been a thought to me. we're always careful. and it's just what we love. >> reporter: bindi posted this photo on

aussis still 13 minutes heading into the center city area from the schuylkill. no problem there. the blue route is okay, watch out for this accident in montgomery county. lansdale, york avenue and south cannon avenue. chris. >> you said no problems on the schuylkill right now but look at this video from a few hours ago. there was a major problem, a fiery crash on 76 overnight. this was the scene near girard avenue after a tractor-trailer and a car collided. investigators say the car was pinned beneath the trailer. the car caught fire, then the fire spread to the trailer. both vehicles burned. the good news is no one was injured. westbound lanes were closed as crews cleared the scene. those lanes are back open for the morning commute. >>> preparing for the pope means a historic no parking zone in philadelphia. with five days until pope francis comes, tow trucks are moving cars from the ben franklin parkway. we caught this one here. parking restrictions went into effect at 6:00 p.m. last night in an area from the art museum past city hall and in five hours, 9:00 a.m., that no parki

some weakness coming through in australia following that disappointing retail trade and the weaker aussie we want to show you some main movers we are watching in asia, the main focus seeing japan and australia, we see the big retail in australia hit a record low as its shares fell. the electrical retailer also fell and they are coming under some pressure. a one-week high for japanese stocks of that is pretty encouraging after that terrible august. pharmaceutical stocks looking really good and some of the export stocks again playing into that story as well. we have seen quite a bit of positive movement. the chinese market is closed until monday. somead: we are following of the stories, hong kong stepping and once again to defend -- they spent $2 billion they're breaking out of the strong edge of its peg against the greenback's. the people's bank of china should step back from supporting the yuan by the end of the year according to other banks. ofna needs to give a minimum money to keep on hand to avoid any shortfalls. they estimate central banks to will wipee currency $40 billion off the s

after the game, collin rush caught up with the aussie sensation. >> you got touches. how you feel? stringing it up a number of days. it's something i played for. and focused on. it's tough, you know? if you want to feel the pinch out here, it's awesome. >> and he went straight to his fans,+ grabbing the australian flag over his shoulders there. now raiders trained wide receiver brice butler with the cowboys. dallas needed a receiver. 30 catches for 383 yards and two touchdowns. on to baseball, a's, white sox former a giving up 26 runs in the first inning this year, leading the majors. that trend continues in chicago. billy burn scoring and a's up in a flash. later in the first, jake smolenski down the lin here.t( and a's are leading 14-2 in the 4th inning. >> steve nash could soon join the warriors as a part time coach. the plan is to spent several days per month working with warriors guards. the 41-year-old retired in march. abc7 sports brought to you by bank of the west. >> that is one of the greats. >> any coaching you can get from steve nash is not going to hurt. >> thanks, la

unfortunately, there's not a lot of good news in the economy aussies.ow working on a mine, extracting either natural gas or iron ore, there's another four or five auxiliary businesses. if you lose one guy in mining, you lose another four or five associated with that. that's not really helping. we tidy it up? it's going to be a big call. buying the china base metals in particular any time soon. they've still got plenty in stock. rishaad: so than what do you buy, if anything? >> i think gold is always a good buy. this time of year, maybe natural gas. as i said last time i was with you, sugar and coffee are still a good one. rishaad: the breakfast trade. >> i still like that. the prices are being pushed down far too much, particularly for coffee, considering what we're consuming. they are expecting a deficit coming into the end of the year. i think coffee probably looks the best. rishaad: you've got el niÑo. you've got also what some are saying is one of the hottest summers ever, or hottest years ever recorded. >> that was on bloomberg recently. that's ano

the aussie has declined for the past two months. this is a strong rise.nd dollar is holding on to gains. rising almost .5% after declining for four consecutive months. i want to take you through the that's because that is because of that trade data to be hit on japanese stocks. they were surging in the early morning, but they plunged. they finished down 2.4%. they erased all of this year's gains. they are at the lowest level since february. chinese trade data is outweighing our report. i want to take you through the shanghai composite. we are seeing an interesting move where authorities areulations -- authorities intervening to prop up the market here it we are seeing -- market. we are seeing a surge in trading this afternoon. it was mostly negative territory all morning. in the afternoon trading, it surged up. this is happened since the stock rout begun in june. since yesterday, it did not happen. today, surging in late afternoon trading. back to you. guy: shery ahn, thank you very much indeed. that trade data came through this morning. bloomberg spoke t

scarlet: the aussie dollar is flying high.ull up my bloomberg terminal this is the australian dollar. we are just off the high of the session. there was an improvement in business positions. the shanghai market rally, even with the latest export data out of china that is encouraging people to think that the worst is over when it comes to china,ity enervated by certainly the aussie currency has been one of the weaker currencies. theaustralian dollar versus u.s. dollar. the year to date in performance, you can see a steady decline for the first eight months of the year. erik: some has to do with a diversion underway between wti and what is happening with brent. brent is up almost 2% and wti is down in excess of two point 5%. it is widening between the u.s. benchmark and international crude. international crude is putting this under the modern currencies. scarlet: industrial metals are getting a top because of the weaker dollar. let's get to the top stories. isk: let's look at what making news. the european union is coming up wit

the aussie dollar pushing higher. , the yen down. the dollar rising did you got not invoke.pound you're seeing borrowing costs rise. u.s. treasury are falling, yields are rising. if you're looking at german debt, havens are out. let's have a look at some of those risk assets. let's have a look at some of those equities. ryanair, i'm going to make a bit of a prediction. we are going to wait for that one to open. anglo american performing at 4% higher. it is selling some of its assets. the platinum unit of anglo american -- it is going to be getting $300 million. alto is going to be driving higher. china's auto sales looking good. it is better than the decline. that's good to push up autos ryanair. it is going to be at a record high after the race there profit forecast. jonathan: another move. i will bring you the stock open for ryanair. equity markets here in europe opening. shanghai composite watching, we were nikkei watching. shery ahn to break down the market moves in hong kong. shery: it was an incredible rebound for the nikkei to

especially those currencies linked to commodities such as the aussie dollar, the new zealand dollar. is up against yen, and you can follow me on to their -- twitter. itl martin winterkorn make to the end of today? left to explain what he knew that this defeat device she did. that is a big question that winterkorn faces today. francine: we have an exclusive coming up, then the ecb. mark: that is the perennial question. i will see you later, enjoy your day. ♪ pulse.e: welcome to the these are our top stories. china slowdown. contraction continues for the manufacturing sector with pmi falling to its lowest level in six years. asian stocks and commodities fall on the news. china is open for business. the country's official news agency says the nation will buy 300 boeing planes. the future of martin winterkorn hangs in the balance as the carmaker's executive committee meets today.

after the game, collin rush caught up with the aussie sensation. >> you got touches. how you feel? stringing it up a number of days. it's something i played for. and focused on. it's tough, you know? if you want to feel the pinch out here, it's awesome. >> and he went straight to his fans,+ grabbing the australian flag over his shoulders there. now raiders trained wide receiver brice butler with the cowboys. dallas needed a receiver. 30 catches for 383 yards and two touchdowns. on to baseball, a's, white sox former a giving up 26 runs in the first inning this year, leading the majors. that trend continues in chicago. billy burn scoring and a's up in a flash. later in the first, jake smolenski down the line here.t( he inning. leading he >> steve nash could soon join the warriors as a part time coach. the plan is to spent several days per month working with warriors guards. the 41-year-old retired in march. abc7 sports brought to you by bank of the west. >> that is one of the greats. >> any coaching you can get from steve nash is not going to hurt. >> thanks, larry. >>> the lawsuit

the disappointing retail and the biggest concerns of the aussie dollar all weighing into that picture. the leadingne of brands. we had a breather from those shanghai swings. jonathan: a big sigh of relief in london where they might be no action in china to shift from the political scene. the huge parade marking the defeat of japan in world war ii has taken place in beijing. it showcases hundreds of new weapons. ewen, we forget that the last two weeks the government has been trying to stabilize the market ahead of this. that screams that the equity market -- you want that a means of the to the economy? politically it is huge. the: it has to do with suppose it in solubility of the government to organize everything. infallability of the government to organize everything. jonathan: we can talk about the transformation of the chinese economy. at the end of the day it will stabilize things politically and make her the labor market stays stable as well. whether it is south korean exports come aims that that in china right now? n: the labor market is not that bad. has comelabor sector up with

as aussie women traditionally strong edmonton, the omens are good. >> anything subtle?> anything can happen in a triathlon. if i'm fully fit and healthy i will be expecting a lot from myself. >> written caustic he holland -- been fine form as of late britain's pacific he holland -- vicki holland has been in fine form as of late. >> she sent out a big message to rivals. >> i think she's doing a very good job at the moment. she has a dressed some of her weaknesses. all of these things make her harder and ordered to beat but i don't think anybody is unbeatable -- harder to beat but i don't think anybody is unbeatable. check out the course then, one lap in the man-made hall. bikes. out onto the the athletes will head out of the park over river valley. they will make a 180 degree turn . then out onto the run, they will transition back to the lake, three laps in total, five kilometers in all. away they go. >> tremendous amount of appreciation. they have been two or three days in damp conditions. the world championships grand final a year ago. these volunteers, i saw them tryi

that will keep kiwi and obviously the aussie under pressure. but the fed in the background coming through. we are probably in the minority, we're not expecting a rate hike next week. we think they will look at the current state of play and the global backdrop and sit back and assess things. and wait until the end of the year before they raise rates. but ultimately, it is still a story of when. they don't like being at zero. but that will see yield spreads compressed. we are cutting rates again today, we expect more from them. they are on hold for the for seeable future. the spreads are going to compress, and more down more pressure. anna: you mentioned the economic recovery in china, since a summer, we have in wrestling with just how quickly is the economy slowing? how much growth can they eek out? give us your forecast. 7%, now there are questions were the number is going to land. but it matters materially, whether it lands at 6.5% or something more like 5%. many people are not distinguishing between the two. peter: the official numbers will c

the aussie dollar is declining once again. it is down 13%.s is one of the only gaining industry groups in europe today. the auto industry, car sales in europe rose 12% in august. the second fastest gain in 2015. customers are snapping up models and .m.w., mercedes benz republican all the. -- and renault. the former stronghold of china, brazil and russia are not so strong now. auto is one of the few industries -- industry groups rising today. that's it for me. francine: thank you so much, mark barton with the very latest on these markets. the world's largest car show, the frankfurt car show is kicking off today. let's cross live to hans nichols who is joined by the opal c.e.o. hans? hans: i am joined by carl thomas newman. e is the c.e.o. of opel. you're going to help return to profitability in europe? >> we designed it from scratch. it has innovations in it and features that apoint ins the upper class. hans: the upper class. the rolls-royce crowd. they are going to think they are ? ssing something on the table >> exactly. we bring luxury to s

talking -- checking in on the aussie dollar. we see a reaction to the significant leadership change. yesterday'ss to news as well. thank you very much. guy: to the car show now. the world's biggest car show kicks off in frankfurt today. 200 world premieres of new car models. international automakers plan to outdo one another to make market inroads. our international correspondent is behind the wheel. hans nichols joins us now from this event. china is the big dark cloud. it is a dark cloud but , the ceopoke to martin of volkswagen, he says he expects a normalization in the situation of china. listen to how he catches it. a normalization process underway in china. we are convinced that china will , no longer into ditches always but it will continue to grow particularly in the west. we are getting ready for this. coast, china is saturated but there is still growth. that is why in the northwest we have set up a new factory two years ago. is to build a budget car especially for the west of china. there are over 200 new models that w

a little movement with the u.s.alian dollar, 0.7128 for one unit of the aussie.e await tony abbott, let's have a look at what else is going on. looking at commodities and oil, recovering slightly from its fifth fall in six days. concerns about the china slowdown adding to worries about overall supply. investors have been warned to brace themselves for more volatility. more now live from singapore. what are people saying? scene is certainly set for more volatility in the commodities market. rishaad: sorry, i've got to cut you short. thank you. we're getting over to tony abbott. tony: there will be no sniping. i've never leaked or backgrounde d against anyone, and i certainly won't start now. our country deserves better than that. i want our government and our country to succeed. i always have and i always will. ine consistently said, opposition and in government, that being prime minister is not inend in in self -- itself. it's about the people you serve. the great privilege i have had is to see the wonder of this country like few others. and i want to thank the a