australia's central bank says it will fix the error on the next series of notes later this year meaning that sometimes you just have to take responsibility however you write it. talk about responsibility of british bank barclays warns that it will take u.s. plane make a boeing longer than expected to get back on form in the wake of two crashes of its top. model boeing says it's working to correct issues with the plane and plans to start a reef flying a seven three seven months this fall but in a box a survey in the u.s. and in europe just on the hof said they would wait for at least a year before flying in the mobile possibly foresee allan's to move the planes grounded. it's writing off. that's it for me of the business africa. formal business background you can always visit our website www dot com slash business schools and do follow us on facebook twitter or. check. with us because africa with it. is a place to stay. sometimes you books are more exciting than real life. preparing to. very. long you know. what if there's no escape. trigger list. german must treat. they want to represen

the china overseas and generic group sometimes new doesn't necessarily mean better in australia other central bank has confirmed that its latest batch of fifty dollar notes has a spelling mistake all one word is misspelled sweet times across the millions of notes have been printed the bank says it will only correct it in the next print. it just goes to show sometimes you have to read the fine print australia's high tech polymer banknotes are extremely hard to counterfeit thanks to their highly detailed printing but evidently that technology doesn't include a spell checker the word responsibility is misspelled three times on the new us notes missing the last. but australians seem willing to overlook the error. well i guess with this instinct is that he uses cash anymore answer quite a lot of people don't know it was printed forty six million times and that's one hundred thirty eight million missing eyes but you'd expect somebody to check and make sure that it's all correct before they suddenly print it has gone out to that many people then and then you expect to be right australia central bank says

sometimes new isn't always improved take australia the central bank there has confirmed that its latest batch of fifty dollar notes has the same word misspelled three times hundreds of millions of notes the bank says it will correct the misspelling at the next printing run. it just goes to show sometimes you have to read the fine print australia's high tech polymer banknotes are extremely hard to counterfeit thanks to their highly detailed printing but evidently that technology doesn't include a spell checker the word responsibility is misspelled three times on the new us notes missing the last. but australians seem willing to overlook the error. well i guess with this instinct is that he's as cash anymore and certain quite a lot of people the note was printed forty six million times and that's one hundred thirty eight million missing eyes but yet you'd expect somebody to check and make sure that it's all correct before they suddenly print it has gone out to that many people then and then you expect it to be wrought australia's central bank says it will fix the error on the next series

australia central bank says it is aware of the errors and the money can be used as normal and we do not know who just yet fell short of their responsibility. >> it's money. >> it is nice. a little mistake. >> even more. >>> 4:57, coming up "today in the bay," another forecast with comfortable temperatures, it doesn't get better than that martinez will be 53 rain in the forecast co peninsula. we'll sort things bay bridge. >>> a committee subpoenas donald trump, jr., what law mamakers w to know. you are watching "today in the bay". bay." and families are gathering itaround the table.america, thanks to reynolds wrap, dinner preparation is perfect, and everyone knows to be mindful of their manners. dinnertime has changed. our quality hasn't. reynolds wrap: foil made in the usa since 1947. pope francis handing down a new law in response to the sex abuse scandal that )s plaging the chur >>> right now at 5:00, pope francis handing down a new law in live report justaway. >>> plus all new overnight, hug slams mark zuckerberg. the action he wants to takeing s and tech reports. >>> an alert, an ea

let's get the bloomberg first word news. >> australia's central bank chief says he will consider cuttingt rates at next month's meeting in order to serve faster hiring. governor philip lowe says the jobless rate needs to move below 5% to drive inflation that the target. this comes as evidence mounts that households are raining in spending and slowing the economy. easing, and in want to reassure you the inflation target remains central to our monetary policy framework. we will take some time to get inflation above 2%. we think we will get there. it is just going to take some time. -- >> democrats have moved one step closer to reviewing president trump's financial records after a federal judge ruled lawmakers can demand the documents from his accounting firm. the judge reflected -- rejected the president's claim congress is not seeking them for a legislative reason and therefore cannot request them. iran has accelerated the rate at which it is enriching uranium after threatening to scale back its commitments under the 2015 nuclear deal. tensions have increased in recent weeks in response t

into they is high tech world spelling mistakes should be a thing of the past but it appears australia's central bank has failed to invest in a spell checker so it's been left hugely embarrassed by what appears to be a typo on the nation's most circulated bank note the word responsibility on the fifty dollar note is missing its third letter i forty six million of the notes had already been circulation for seven months when the mistake was finally spotted by a listener to a radio station australians are hoping next on the x. then please add an extra zero that never happens if for the news hour more news in a few minutes a bike. once welcome now fear. dividing the nation. al-jazeera explores germany's long term economic strategy of pursuing immigrants from the arab world i feel more gentle and serious the. much money does a richer get those people who don't think it is from deutsche one german and i'm rocking the new germans on al-jazeera. because it's a tool to climb to one of the holiest sites into time targets next ball astri seems to defy gravity every piece of the east is expected to complete the

mistake, but multiplied millions of times , had less than red faces at australiaa pot centralal bank. -- at australia pot central bank. banknotes haveew been printed with the word responsibility spelled wrong, three times. to a magnifying glass to find the typo. it is hidden in microtech's underneath a picture of the building. it was rolled out last october and is said to be the most difficult in the world to cultivate because of the extraordinary level of detail. it is an embarrassing error for the bank, but people do not seem to mind as much about it. let's take a listen. had a few more 50's. you expect that they would check to make sure it is correct before they print it. but, let me go ahead and call them out? no. i go back to the u.k. and say, look what they did in australia appeared what can i do for this? how much can i sell this for? genie: maybe that was part of the e anti-counterfeit p purposr that way counterfeiters will never think to misspell on a note. >> i think you are reading too much. genie: you never know. i am trying to give them a break. coming up for you in the next half-hour, m

today's high tech world spelling mistakes should be a thing of the past but it appears that australia central bank has failed to invest in a spell checker well it should have because it's been left hugely embarrassed by what appears to be a typo on the nation's most circulated bank note the word responsibility on the fifty dollar note is missing its third letter i forty six million of the notes had a ready been in circulation for seven months when the mistake was spotted by a listener to a radio station. and now a reminder of the top stories on al-jazeera trade talks between china and the u.s. are underway in washington with president trump's threat of new tariffs on chinese goods looming china has rejected accusations that have backtracked on trade commitments with the u.s. a spokesman for beijing's commerce in the streets says the country has quote kept its promises as hopes of reaching a trade agreement failed this week tariffs on two hundred billion dollars worth of chinese goods are due to come into force in just a few hours if a deal cannot feel reached we were getting very close to a deal t

in today's high tech world spelling mistakes should be a thing of the past but it appears australia's central bank has failed to invest in a spell checker yes it's been left hugely embarrassed by what appears to be a typo on the nation's most circulated bank note the word responsibility on the fifty dollar no. what is missing its third letter i forty six million of the notes had already be in circulation for seven months when the mistake was spotted by a listener to a radio station australians are hoping next time they'll accidentally add an extra zero or more on the website as they were that called. and now time for a reminder of the top stories on al-jazeera a suicide attacker has killed but least seven people left a detonating a bomb in a market in the southern a city district of baghdad the attacker detonated his explosive belt while surrounded by security forces that this strict this predominantly populated by shia muslims and is the target of frequent sectarian attacks china has rejected accusations of backtracking on trade commitments with the us this is it prepares to resume talks in washi

well sometimes new isn't also improved like in australia where the central bank has confirmed that itslatest batch of fifty dollar notes has the same word misspelled three times on millions of notes now the bank says that it will correct its at the next print run. it just goes to show sometimes you have to read the fine print australia's high tech polmar banknotes are extremely hard to counterfeit thanks to their highly detailed printing but evidently that technology doesn't include a spell checker the word responsibility is misspelled three times on the new us notes missing the last. but australians seem willing to overlook the error. well i guess with this instinct is that he uses cash anymore answer quite a lot of people the note was printed forty six million times and that's one hundred thirty eight million missing eyes but yet you'd expect somebody to check and make sure that it's all correct before those on the printer has gone out to that many people then on his side then you expect to be wrought australia's central bank says it will fix the error on the next series of notes lat

. : australia's central bank has cut its outlook. a says the economy is expected to expand 1.75% through june, a downward revision from three months earlier. the central bank opted against easing policy this week. it is waiting to see if consistent job strength is maintained. a breakthrough in europe for british football. all hail from england. can theresa may learn anything from their success? when it looks like your european opposition has you beat, you can still succeed if everyone comes together. global news 24 hours a day on-air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. francine? francine: stay with surveillance. plenty coming up including asmodities in the crossfire -- and as trump unleashes a 25% tariff, we will discuss how it will affect china. this is bloomberg. ♪ this is bloomberg surveillance. i'm francine lacqua in london. commodities have been caught in the crossfire of the u.s. china trade war. investors are bracing for disrupted trade flow

australia. have central banks and developed markets got enough ammunition left if there is another downturn?eve they do. let's take a bit of a step back. we're looking at fundamentals, but ultimately, you rolled out up into a broader picture, a macro picture. take a step back and say more than a decade into recovery, you have significant amounts of accommodation that are still in the system. i think the expectation has been that global growth will equal or exceed what we have seen in the past, but productivity growth for one, population growth in major markets is the same, so expectation needs to be lower for growth and potentially returns. i think the central bank mantra has been let's stimulate to get us back to where we were. ultimately, i think what you see in australia is a repeat of some of the same mistakes that were more than a decade old. then again, it's people. shery: when you said earlier you're looking more into china, is that also because potentially the pboc and policy makers in general in china have more ammunition against a potential downturn? >> we have been investing in ch

patients and the market has overreacted to the fact that these central banks, whether the fed or new zealand or bank of canada, bank of australia, wherever it is, the fact central banks have moved from a hiking policy to one of being on pause and wanting to watch the data come through, traders have overreacted to assume just because we came to the end of the hiking cycle, we have to move to a cutting cycle. i'm not sure that is the correct assumption. we might stay at a stationary level for some time before we see where the next leg in rates will be. anna: prolonged, patient pause. mark cudmore, markets live managing editor with the latest on the fed and fairly quiet session in asia. looks to be a quiet session in europe. the london market will be open. you can join the debate on today's question of the date. at -- our fed rate bets odds with the job market? what do you think? reach out to the team. ib+tv go. apple reports better-than-expected sales of its flagship device after a bruising holiday period. we will look at what else is exciting investors about the iphone maker next. bloomberg radio is live on your mobile device or

central banks. five central banks around the asia region, gathering signs of new easing. australiaannouncing rate decisions, the latter being the only one that isn't a lag with cut potential. some people are still debating. >> it would mark a in course from last year, among the most aggressive movers as the federal reserve tightens. why would they move? why would others move to the downside, or perhaps they stay as the fed does to allow themselves to keep their bullets in the chamber? not., absolutely the fed reversing from being hawkish to neutral, maybe even with a dovish skew, changes the whole landscape. whereas before you could stay neutral, now being neutral with a dovish fed is more hawkish. what's really significant about this week -- of course it will be overlooked -- we may be getting big moves, where they basically had no rate decision for quite a few years. we have rba tomorrow where i think they will cut. this is quite a big deal, less so for the likes of the philippines and malaysia potentially. >> right. for the rba, i know you have someplace around that. the consens

central bank --philippine's central bank governor. the philippines just one of five asia-pacific central banks this week. here in australiaba moving as well, or potentially not moving. really on the horns of a dilemma with their dual mandate. >> the key question in my head is how they will balance labor market data, good jobs numbers in march, against a very obviously week cpi number we had for the first quarter. it will be interesting to see how much they attribute that to the fuel price movements we have haven't -- we have had, oil prices already unwinding, how they stack that together and signal or they go in the second half of this year. paul: this development this morning on u.s. china trade, this is something the rba mentioned in the past. is it going to be a factor? sarah: certainly. because it is a holiday, we will not get much insight as to what sort of response is going to be in terms of direct movements for trade negotiations. i expect them to mention it for sure. shery: despite the fact that we have seen the chinese economy stabilize in recent months, we got a disappointing surprise when it comes to the pmi nu

come, the reserve bank of australia meets on tuesday, less than two weeks before the australian election, will the vote factor into the decision. we will talk about that and other centralmeetings. this is bloomberg. ♪ berg. ♪ paul: it is a: 30 a.m. in sydney, we are minutes from the market open. futures are pointing higher. we have seen s&p futures slightly on this trade news. i am paul allen in sydney. ahn, you arehery watching daybreak australia. let's get to first word news. has turnednt trump up the heat on china, tweeting he intends to top up tariffs on a range of goods from friday, despite positive comments from both sides in recent weeks, president trump hardened his tone, saying he is not satisfied with the pace of trade talks and tariffs on $200 billion of chinese products would increase from 10% to 25%. former legalmp's fixer michael cohen begins his sentence monday, convicted of violations,ance bank fraud and lying to congress. new york prosecutors rebuffed requests for a final meeting in which he offered to provide more information about alleged wrongdoing by the president and people close to him. reports from north korea say kim jong-un personally oversaw

the central bank in australia did not wind up cutting rates as the market had anticipated.bund yields an negative territory. david: there is always a risk with this. now we will get an update on what is happening outside the business world. we turn to read need a young -- renita young. beijing says its top negotiator will head to washington for talks. wasvice premier visit announced after the trump administration ratcheted up the pressure. it is accused the trump administration of -- accused china of backpedaling on comments made on trade. in turkey, the election board has ever turned a rare defeat for president erdogan. it has ordered a rerun of the mayoral election in istanbul. party urged widespread irregularities in the vote which will is won by the opposition party. drivers for uber and other ride-hailing services in the u.s. are planning a two hour strike tomorrow to raise awareness about their complaints. the drivers are seeking better pay and working conditions. over is set to go public later said to bend what is the biggest ipo of the year. global news 24 hours a d

bank of australia. are we going to start to see a race to the bottom of global central banks, the new zealand yield alsoitting record lows today and you are seeing a lot of strategists call for that race to the bottom. derek: i think in australia we will get a cut at the beginning of june. again, are we into a series of rate cuts from australia, new zealand? again, it is down to china, how severe it will be, the downturn, and how big an escalation in the trade conflict. still open to debate. i think the risks are beginning to shift. i think the chinese economy is slowing. the stimulus is starting to limit the degree of slowdown. i think we are into a phase where global central banks are moving toward rate cuts obviously. let's hope there are a few more things up their sleeves other than rate cuts. let's get you up to speed now with your first word news. the very latest from our hong kong studio. >> the trumpet ministration has again refrained -- refrained from labeling china a currency manipulator, leaving a campaign promise unfulfilled but avoiding further escalation in the trade war. itstreasury also

central bank policy. the rba has left australia's key rates unchanged, slightly surprising economists. ty had addicted a 25 basis point cut. the ecb's outgoing chief economist has dived into debate over whether the euro area's central bank needs to revisit its interpretation of price stability. he says it is right to permanently think about the lessons of the past but doing so in public can be misread. for global time central banks. let's talk about the rba first. the way this was written up on some parts of the bloomberg was that philip lowe decided to ignore some of the political rhetoric. was there an economic reason for him to stay on hold today? there are opposing forces which is why economists were split. we expected they would stay on hold, the reason being that we see pretty strong labor markets in australia. and it is clear that although inflation has underperformed in the first quarter, rba governor low is still focused on what is happening to the labor market. we would expect that later in the year, the rba would cut rates so we are expecting a cut in the fourth quarter and p

think we will hear that australia is joining the rest of the asian straggle. >> australia has been on the path around central bankasier. being it looks to be continued. we know many of the problems is across the australian housing market. to do with tightening from the back of the world commission. a multi-year be project. thatne of the key leaders cushions the rba policy. the biggest question is, much of that is consensus. much of that is in the price. we know it has been a consensus-based study for the australian dollar, and for the long rate. the numbers look like they will be confirmed. the idea that there will be a surprise rate cut, it looks unlikely. steady as she goes. is something that looks to be untrained. paul: let's look at central-bank policy more broadly, in terms of that conundrum that many of them face. inflation strong, missing in action. you see the phillips curve starting to curve. where are you seeing that? a lot of these pivots where people have given up on any sense of inflation in the economy is maybe unlikely to be realized. one of the most important numbers last week was the university o

central banks? wouldn't surprise me, particularly for those more sensitive to commodity prices and are already seeing a slowdown, such as australiand maybe even canada, although a mixed picture there. conflictl, this trade is very hard on the tech sector, but very hard on agriculture right now if you look at the price of agricultural commodities in the u.s. and think about china's relationship with australia through iron ore, etc. if this continues, it definitely will mean that you see more downward pressure on those economies and assume that the central banks will respond to that. vonnie: i want to ask about the latest speculation on who the president might try to nominate now for the fed board. the latest name we are getting is judy sheldon. what do you know about her? what might she contribute? kathy: i am not really familiar with her work. she is a conservative economist with some background on the international side. i think this one at least is less controversial, perhaps, then some of the others. since the name has just been floated, we don't have a lot of information yet. vonnie: so rounded all up for us. why is now the t

central bank tone which is neutral to dovish buyers. they are not alone. the ecb is struggling to raise rates. australiaew zealand have a low inflation problem there. matt: we will continue to talk about central banks when we come back. daniela russell from hsbc will stay with us. we will bring you the stocks on the move so far this morning. at the very beginning of the session, metro bank is slumping after first-quarter earnings fall 15%. this is bloomberg. ♪ matt: welcome back to "bloomberg markets: the european open." 10 minutes into the session and the dax up .1% and the ftse down .5%. theresa may and her political rival jeremy corbyn are signaling they may be edging closer to a deal on brexit. may is looking to wrap up talks by next week either with an agreement or without one. for theper thursday bank of england today which means a rate decision, minutes, and updated economic forecast all due out throughout the day. with a look at what to expect, we bring in annmarie hordern. >> today's meeting will be the first chance for the boe to gauge how they will approach the new extension the agreed-upon f

australia this week hinted at one. south africa followed. i wonder if that is the beginning of something. michael: central banks around the globe are cutting. one reason we have a bullish view on u.s. rates is relative to the rest of the world. our rates have not really kept up with the rest of the world. aussie 10-year is down 1.5% today. u.k. is below 1%. our yields are looking more attractive relative to the other broader fixed income opportunity set. it has been one of the drivers for us, the weakness in global economy, decline in global yield. when italy is the only yield that is close to the u.s. come as a global investor, what choices do you have? you can put your money in italy, or you may choose to do that in the united dates. i think more money would flow into the u.s. market that italian bonds. michael: italian spreads are 10 basis points tighter. jonathan: you still like europe right now? i think the peripheral countries, from a fundamental perspective, notwithstanding the political risk, but spreads are pretty attractive, we still like portugal, greece, front and italy. you are still getting paid f

other central banks most likely like new zealand and australia will probably be easy in the month of may, and i think there's a variety of reasons, but most are paying attention to the long end saying it means our growth is toast which means we're going to miss the bus called the stock market. >> rick, thank you for the stock reaction let's get to bob pisani at the new york stock exchange. not much movement in the financials >> a little bit. fairly typical reaction here, actually the s&p will move five to ten points immediately after the fed announcement then often reverses. we're getting that close to that 29.46 we were going into the immediatin meeting. a slight reversal. banks lower as the rates were higher i can tell you down here the fed might say it's symmetrical that they could hike or cut, but down here they're all into the cut territory. and most of the people down here believe a price cut of some kind, a rate cut, excuse me, is the next move. i see 65% odds the feds will cut rates in fed futures at some point in 2019. i think that's baked into the stock market somewhere alo

the central bank can afford to sit on its hands and see how things pan out. that is exactly what we saw the reserve bank of australiaerday. shery: you spoke to the governor himself last month. what were the biggest takeaways from that conversation? think it was, i for everyone really. governor orr certainly confirmed a rate cut may be a possibility. we know we are dealing with a live decision today. at the same time, he said it is a tough call and there are reasons not to cut rates. you think there are constraints in the economy. in terms of trade, near record highs. one thing he said that did stand out that is potentially significant was that he doesn't want to keep waiting for one more piece of data. or keep looking in the rearview mirror. at some point, you have to make a call. so maybe that suggests that he wants to get on with the job. shery: thank you so much for that. matthew brockett in wellington. coming up next, the battle of the ride hailer's. uber is set to go public this week. lyft reports its first earnings. later wednesday, drivers go on strike. which will be the last one standing? bloomberg contribut

australia spotted a typo on a fifty dollar bank note. the word responsibility is misspelled three times. and the country's central bank has confirmed that yes all forty six million notes in circulation include the same mistake it's a huge mistake and all i made an absolutely huge mistake. australians were quick to give their own two cents about the typo seen around the world. there was the sarcastic you could say could be very answers possible then and stella jake. i think it's sad that people come spell probably anymore don't they have anyone checking it. andd the flat out pragmatic priscilla fifty bucks. that's on that is the fifty dollar bill shows an image of edith cowan the first woman electe to the australian parliament. the typo appears in an extract of a speech she made in. nineteen twenty one the australian central bank has said it would correct the error in the next print run later this year. in the meantime if australians were looking for a brand new reason to laugh well it seems like 05/09/19 05/09/19 [captioning made possible by democracy now!] amy: from new york, this is democracy now!w! >> talk for

if you look at what is going on in australia, i'm sure we will talk about that later. that emphasizes the way central banks are at a difficult stage. the trade talks are at a difficult and complicated stage. we are getting to some and games here for trade policy, for monetary policy, for fiscal policy, and all that means that you should expect volatility to pick up from the phenomenally low levels that it was earlier this year. i would argue also we are going to start seeing these straight-line moves in equities and other risk assets if there are going to be gains, they are going to be choppy or than i have been for much of the past three months. why don't we talk about australia now? half of the economists we surveyed expected a cut from the rba. that did not happen. we are still getting dovish signals out of the bank. garfield: i am not sure we are getting much in the way of dovish signals. they eschewed any real easing bias in what they came out and said. it seems like the governor is sticking to his guns. he is going to look through the recent extreme inflation weakness and even to some extent, the gro

australia." let's get first word news with ed ludlow. reporter: the fed vice chairman says the central bankse monetary policy if it sees mounting risks to u.s. growth. however, he stresses the economy is in a "very good place" with inflation low. they say that risk assessment and not just data could be a trigger to the cut rate. >> we are attuned to the potential risks. if we saw a downside risk to the outlook, then that would be a factor that could call for a more accommodative policy. that is something in the risk-management area that we would think about. reporter: u.s. economic growth last quarter was revised down by less than expected. consumption was stronger than originally reported and so were exports. gdp expanded at an annual rate to 3.1%, down 110 from the original report. bloomberg intelligence says growth is dependent increasingly on consumer spending with business rattled by volatile markets and trade concerns. arab and muslim leaders are gathering in saudi arabia for a summit in the city of mecca. the organization of the islamic corporation will hold meetings as tensions rise

we will have policy decisions from australia as well as malaysia with some expecting rate cuts from both central banks. inflation data as well from the philippines today which may reinforce using bets later this week. paul: thank you very much. let's get the first word news now with jessica summers. jessica: treasury secretary steven mnuchin is refusing the latest attempts to obtain six years of president trump's personal tax returns, writing to the house ways and means chairman, he says the request quote, lacks the legitimate legislative purpose and therefore he is not authorized to disclose the requested documents. democrats could now pursue more forceful mester -- measures like a subpoena. the federal reserve is stepping up its warning about corporate debt. 20%market for that expanded last year and lending standards are continuing to slide. businesses with the biggest existing debts are also the ones taking on the riskiest loans. it also adds protection lenders are continuing to erode. in indonesia, growth slowed in the first quarter as global slowdown hit exports. in marchfraction of 5% from a yea

but in those areas where central banks are about to capitulate, look at australia or new zealand.an to interrupt but this is so important that we have to get this in. is there a global missed call right now? where the trade is so one way, trade war and inflation, that we are all going to get slammed in a couple of months going against the alberto gallo call? >> if you ask me when inflation can come back or how inflation can come back, the answer is politics. you will see a left-wing push in the u.s. with bernie sanders or biden in the u.s. elections. or in the u.k., if the conservative party fails to brexit andan orderly you have a shift towards labor or mr. corbyn, you can see the central bank balance sheets creating growth. modernize the fear he, qe for the people. -- modernize the theory, qe for the people. create employment. maximize employment. this would create supply driven inflation. not because the economy is doing well, but because there is too much use of money printing to create growth. and that would be bad for all bonds. this is the risk we face between the ice age a

central-bank stance will carry. that is something market participants are complacent about. paul: i wonder about the impact in australiarba will probably have to use -- this trade war is another factor. the hurdle for the rba is quite low. they have pointed to the fact the labor market is crucial to their outlook. if we look at leading indicators of labor market strength, they are pointing to the fact we are going to get softness creeping in. we look at anz job ads, capacities and libation in this business survey, the employment sub indexes, and one of the big factors is the downturn in the residential construction market, building approval, pointing to the fact we will get a pickup in job losses within the residential construction sector. it is only a matter of time before the rba has to move to cut rates. paul: thank you for joining us pray we will have australian jobs numbers out. plenty more to come. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. journalists and analysts in more than 120 countries. paul: i am paul allen in sy

the window for asian central banks to lower interest rates remains firmly open next week. having policy decisions in australia thailand, and the philippines, as signs growth of new easing in the region. after fed chair jerome powell pushed back against pressure of 4 rate cuts. let's bring in a partner and asset manager at east capital. it focuses on emerging and frontier markets. she joins us from hong kong. i mentioned 5 asian central banks making policy decisions next week. probably 4 our lives. how closely are you watching those? >> we are watching this, but we don't spend a lot of time. forhink the trajectory global markets, in terms of monetary policy, is more important than what's happening in each and every company. markets we are focusing on like china, we have seen there is no specific surprise to expect. it is clear how things will be developing. we spend more time looking at earnings, reforms, what is going on, in terms of geopolitics and the central banks. paul: in terms of some of these emerging markets in the asia region, we have gotten interesting news. the bubble of everything and are going to

central bank increasingly opens the conversation about rate cuts. the market is increasingly thinking next month might be the time we see a rate cut from australia. the decline from china into the australian market also interesting longer-term to keep an eye on. let's have a look at the other side of the gmm. movement higher in steel prices. steelng some in the industry to tears, so overwhelming that they find. removing the tariffs on canadian and mexican steel. a story to illustrate these things can move both directions when it comes to trade tensions. let's start the conversation with mark cudmore, our markets live managing editor. good to have you with us. with china talking about unwavering resolve to what they call u.s. bullying, that asks the question, what is china going to do? will they weaponize the yuan? asking,rade war, we are turn into an fx work? the yuan would be at the epicenter of that. is one of these questions were how you define an fx war is subjective. we are going to see central bank's reacting in terms of their policy toward easing interest rates. china letely to see dollars the ny rise at some point. that will be perceived