the dollar and the dollar. it's not a pretty significant rally and now looks like it may be softening up a bit and it's kind of overdue for a pullback i would say it's a year to kind of back your portfolio i think is poised to back to now take advantage of these these trends assert reasserting themselves so you know years ago i think the whole dollar rally in that took place really in two thousand and fourteen twenty fifteen maybe start twenty thirteen was was fake i think it was based on a misunderstanding of the efficacy of fed policy everybody all of a sudden believe that the fed solve the problems that there was no damage from q.e. did everything is great that they can normalize interest rates they can shrink the balance sheet the fed save the day ben bernanke he was a hero and i think people are going to find out how wrong they were if you remember the very first reaction when they first launched q.e. number one goal went up to nineteen hundred and people were worried that this was going to be a problem th

the trump rally and a little bit i mean i think the dollar rallied about six percent over the dollar index from the election of trump to the inauguration of trump it's now fallen by better than ten percent in fact if you look at the dollar index we just cracked below ninety three today so we're now trading at a ninety two handle i think the key support is just below ninety two ninety one ninety if we close below that then we could return to eighty on the dollar a day actually that would take us back to where we were at the beginning of two thousand and fourteen and then below that maybe you know once we crack through seventy one ish that's the record low right we got down to just below seventy one in two thousand and eight right before the financial crisis then return to that level again in two thousand and eleven so we've got a bit of a double bottom just around seventy one but i think by next year we could take that out and then it's you know if the bottom drops out i mean sixty as a minimum would be my target on the dollar index by ultimately think it's going a lot lower than that

currencies arising against the dollar.t is the yen and the swiss franc are preferred haven currencies today. you have bond yields declining and gold rising today. we had some data on the u.k. housing today. they are cooling in august after the economy slowed in the first half with a 2.1% annual rate matching maze reading, which was the smallest since june 2013. .1%he month, prices fell and the economy posted the weakest expansion among g7 nations in the second quarter. faster inflation and uncertainty about the future of the eu weighing on consumption and investment. it, see overall growth at 1.5% this year compared with 1.8% last year. nationwide expect house price growth to average about 2% this year. look at where annual house price growth was in june 2014. it was in double digits. gold rising to its highest level since september last year after north korea fired the ballistic missile over japan. amiding demand for havens escalating tensions between pyongyang and the united states. the bloomberg dollar spot index is the

dollar and they are there keep on buying u.s. treasuries and they're against gold and gold barbarous relic but he says most immediately during the calm of the august vacation season we are seeing too confrontational nationalistic and military a stick leaders playing chicken with each other while the world is watching to see which won't be caught bluffing or if there will be a hellacious war and to the odds of congress failing to raise the debt ceiling leading to a technical default a temporary government shutdown and increased loss of faith in the effectiveness of our political system rising it's hard to bet on such things one way or another so the best that one can do is be neutral to such possibilities and buy gold he says you know five to ten percent this is a standard wealth management tool for those with wealth to manage many americans have course don't have any wealth but here he's saying five to ten percent we haven't heard people say this most people are even on the financial news on the scene and b c's in the hedge funds

payment systems on the dollar as a settling currency and so on the u.s. is using its dominating role in the monetary and financial system to impose pressure on foreign business including russian companies the move is in direct response to the new sanctions imposed on russia that were signed into law by u.s. president donald trump last week but the move is not the first of its kind after the u.s. sanctioned russian twenty fourteen the government created a new national payment system to eliminate reliance on western ones like visa the system called near has since issued nearly fourteen million cards according to the russian national system of payment cards. well the dollar just can't win right now it's still soft down a few points the past month and highlighting doubts about the pace of economic growth in the u.s. meanwhile gold has been scoring because of the uncertainty and now there might be a new use for the precious metal joining me now peter schiff c.e.o. of euro pacific capital peter the dollar is weak the gold gets a rise from that what role does he

billions of dollars to comply that's right and that even a small bank will be paying over a million dollars into the millions of dollars to comply a large bank like one big thing like bank of nova scotia canada itself paid three hundred million dollars in its compliance with the fact that there was a bank in spain that professor burned on paying eight hundred million dollars it is fact that complies and his money going into the us treasury and hope is coming into the pockets of the great big accounting firms law firms people like this this is the biggest corporate welfare boondoggle the world has ever seen gimme the human aspect of this story of how i mean obviously with taxes in the laws it's hard but what is the human aspect here who is affected well and you know it i think one way or another it effects a lot of people as i mentioned the people especially people living abroad americans living abroad and as you pointed out in the opening it's not just americans it's spouses of it's americans it's a resident alien or maybe somebody's mother was born in america they're people they call accid

see million dollars are yo filling in for lindsay france this is boom bust broadcasting around the world from right here in washington d.c. coming up cuba conundrum how the caribbean island state could be tied to struggling venezuela and blocked chain unchanged we speak to cyber security expert john mcafee about how high bit coins price may go later tax turmoil a little known u.s. law is causing americans living abroad to renounce their citizenship standby boom bust starts right now. russia's continuing its steady dominance of crude oil production this year once again topping saudi arabia in june according to official data released this week as you can see here russia has been ahead of saudi arabia all of twenty seventeen producing ten point three million barrels per day in june of saudi arabia's ten point zero seven million the us is consistently ranked third now saudi arabia's exports also fell to about six point nine million barrels per day its lowest level of oil sold abroad since twenty fourteen saudi arabia is leading an effort by the organization of the petroleum exporting countri

dollar the u.s. dollar is weak u.s. demand for oil is weak and it's a prices of lithium carbonate the primary based chemical produced by the industry has more than doubled in the past five years and just so you know we don't see any price fall in next three years according to benchmarks morris he said when you look at all the battery plants being built in the plans for electric vehicles even if only about twenty five percent of those are ever realized we're still going to be short of lithium as a unique once in a generation situation you know long live him and us are bi-polar that short well we've got to take a break and we're back. to protect him he said. up and up and basically. in the. house he will be looking to see if. you were talking to. i'm not allowed. to meet him it's already. been a lot of any of us to come out of a skid but i'm a look at him as are a lot of us up the money into. oh give me money i love my money. just say so and i'll. go so who do are some of the fallout of fortune being made by. other people

dollar the u.s. dollar is weak you have demand for oil is weak and it's a prices of lithium carbonate the primary base chemical produced by the industry has more than doubled in the past five years and just so you know we don't see any price fall in next three years according to benchmarks morris he said when you look at all the battery plants being built in the plans for electric vehicles even if only about twenty five percent of those are ever realized we're still going to be short of lithium as a unique once in a generation situation no longer have the i'm unless you're bipolar and short well we got to take a break and we're back. here's what people have been saying about redacted in the sixty's. the only show i go out of my way to. really packed a punch. is the john oliver of party americans do the same we are apparently better than. the c. people you've never heard of love to the next president of the world bank. seriously send us an email if you're not going to want to. ask but i. owe. anybody.

with the aussie dollar.e watch the deals end of the conference. australia's gold miners are cached up looking for acquisitions. the top 10 have about one point 4 billion dollars in cash. bloomberg was running a story about how some of them might be looking to the u.s. and canada for a few acquisitions. i am sure we will hear more about that in the next couple of days, and in the next couple of hours. northern star, the number three coming up, will be 8:30 hong kong time. we will have an exclusive with the former president mr. zoellick. at 11:10out the guests hong kong time, bob vessey. plan to hear in the cold space it is a big day in kalgoorlie. that is not something that you get to hear very often. haidi: big names, looking forward to it. we will be getting more from their little later on. the scramble to secure lithium canada, -- in australia, and the oil race to the middle east. jobs data beat forecasts for july, what that means for the fed and their tightening timeline. this is bloomberg. ♪ good morning

dollar the u.s. dollar is weak you have demand for oil is weak and surprises of lithium carbonate the primary base chemical produced by the industry has more than doubled in the past five years and just so you know we don't see any price fall in next three years according to benchmarks morris he said when you look at all the battery plants being built in the plans for electric vehicles even if only about twenty five percent of those are ever realized we're still going to be short of lithium as a unique once in a generation situation no longer have the i'm unless you're bipolar and short well we got to take a break and we're back. we all willingly accepted the risk of being shot wounded taken prisoner but noone signed up to be friggin poisoned by our own people of seeing stuff that was nuclear biological and chemical products the said do not truck tires all types of styrofoam polystyrene these batteries trucks there was a complete denial i think at all levels of government that there was any connectio

we will look at where the dollar goes from here. this is bloomberg. ♪ ♪ haidi: this is "bloomberg markets: asia." i am haidi lun in sydney. inhaad: i am rishaad salamat hong kong as we check in with the business flash headlines. uber's incoming cheek executives -- chief executive saying an ipo should happen in the next 18-36 months. the new ceo was introduced to employees by travis kalanick. he is seen as a man of principle with little ego. one of his first tasks will be to rewrite uber's ethical code. haidi: bloomberg has been told that apple is waiting into the battle for toshiba's memory business. aat is in companies with group that includes western digital and kkr. flash memory on from toshiba and its iphones. they want the continued supply so it is not dependent on rival samsung. rishaad: expedia naming finance chief as its new ceo, quickly filling the job with the n-terminal canada. -- in terminal candidate. sent expedia stock lower on news of the departure. don't miss our interview later on, bloomberg markets america, :30 p.m

venezuela's president would think after sunday's chaotic election and shiny or them gold with the dollar dipping gold doesn't go too but a different mineral could end up dominating the market plus freezing assets the e.u. is looking at ways to keep residents from cashing out during an economic crisis that more coming up on boom bust it all starts right now. i. would trump administration is slapping saying sions directly on venezuela's president of follow through after promising swift action against nicolas maduro for carrying out an election sunday the u.s. considered to be a sham in a rather unusual move against a foreign leader the treasury department is freezing any of the duros assets subject to u.s. jurisdiction and bars all u.s. persons and companies from dealing with him material claimed victory in sunday's vote to form a constituent assembly a legislative super body that has the power to draft a new constitution for the country the opposition boycotted the vote and refuses to recognize the results the day was marked with protests and violence the country's chief prosecutor's offi

dollar? mario draghi will try jawboning, so if you have a weaker sterling, a weaker account ofn washington, it is a one-way bet when it comes to the euro, but you see upside to where the dollar goes. >> i think so. one hurdle is the political noise that will continue into september as we approach the debt ceiling government shutdown deadlines. that is the near term weight on the dollar preventing it from rallying, but once you move past the political noise, there is risk that the dollar starts to appreciate, whether the euro, japanese yen, maybe not sterling, but you do have to get past this september hurdle that will weigh in the u.s. dollar. rishaad: who is runnable in asia? who isink -- haidi: vulnerable in asia? >> asian currencies continue to be range bound near term. we have noticed that central banks in the region are intervening more actively. official intervention numbers show the appetite for further fx appreciation is lower than it used to be. if the dollar goes up, there will be a

dollar the u.s. dollar is weak you have demand for oil is weak and surprises of lithium carbonate the primary base chemical produced by the industry has more than doubled in the past five years and just so you know we don't see any price fall in next three years according to benchmarks morris he said when you look at all the battery plants being built in the plans for electric vehicles even if only about twenty five percent of those are ever realized we're still going to be short of lithium as a unique once in a generation situation no longer have the i'm unless you're bipolar and short well we got to take a break and we're back. for this. was you know my point i wanted to. ask but i. owe. your so you know i lost his boss because. we saw. any of those in person but that's almost. showing us you know part of his you're not. you know just i mean most people have spent the better of me just a lot of the media. i mean the lord. has been up as well i must say i mean i really feel that you will get off on

well let me tell you about how we spent six million dollars on kashmir goats . and didn't even give me pretty sweaters out of it. so the pentagon a pentagon task force had funded this purchase and transport of these specific very specific it was nine re or italian guts the idea was that they would breed these goads with the native afghan goats and come up with some fabulous cashmere make straight cashmere solid around the world blah blah blah the project director quit. most of the goats in fact all of the goods i think died or got sick so they were used. and here's one really good so is the special inspector general for afghanistan reconstruction or what they call sigur. stated quote and i'm not sure flying italian goads into afghanistan was exactly what the founders had in mind when they created a standing army for the united states. no i don't think flying in mind goats was the was the plan nor is that a good way to reconstruct and i caught a million people and farmers i mean i guess i kind of understand where they were going but not a point we were in silly t

if this dollar positive or dollar negative?in above estimates after analyst have/expectations --/ -- slashed expecations. shares are trading higher. german carmakers are said to be closing in on a deal to provide hardware is for diesel cars that could add up to as much as 5 billion euros. will it be enough for politicians and the public? welcome, i am matt miller in berlin alongside guy johnson at the low left -- at the headquarters in london. let's take a look at how equities are shaping up this morning. we do have an outperformance from the ftse 100. doing pretty well this morning. there are housing stocks that are doing well. always worth -- rolls-royce up as well. direct line is trading strongly as well. stocks specific stories surrounding what is happening with the ftse 100. 74.05 is where we are trading. the dax is a little bit weaker mass: after told trumps trade advisor said that the euro is grossly undervalued, the single currency remains 14% below the fair value against the dollar. the euro is the cheapest among its p

as a market to market effect, as the dollar goes down, their dollar denominated basis goes down.china from going down as much as you might expect over the last 6-7 months, the dollar index is down 10% versus major currencies and 3.4% versus the chinese currencies. chinat: we're seeing spending a great amount of money when the dollar was rally, preventing their own currecy from weakening. they have put a lot of money into doing the opposite. operation,smoothing everything about china is about stability, stability in the economy, growth and the exchange rate. the evidence would suggest the currency is not moving again other currencies -- not moving against other currencies as you might expect. scarlet: is there a cost to doing this for china, keeping these currencies at this level and artificially preventing it from doing what it should? >> i don't think so, earlier in the year we had the opposite effect when they were trying to stabilize their currency because that require them to hike interest rate, try to defend their currency and that was creating risk for the economy. this tak

keeps falling and hit a new low for the year today i think the dollar is going to keep falling that's going to keep stoking worldwide demand for commodities particularly out of china you know i am expecting a very sharp move up in the value of the chinese currency you're going to see more copper imports in china so all that is bull is said of course you know you have a lot of people now looking at electric cars i mean copper is very important ingredient or a component of the batteries in the engine so to the extent that more people want to left it will power vehicles that's another source of demand for copper that wasn't there before so i like copper i'm invested i have exposure to copper i own companies that mine copper that own copper but gold is a monetary metal and so. so i think the price of gold is going to be basically marching to a slightly different drumbeat than the price of other industrial metals like copper but i think they're all going to go up but i think it's a stretch to say that copper is going to outperform gold because i do believe that we're going to have a moneta

dollars euros chinese yuan which in the long term d values these currencies so what you're saying is more of a currency devaluation than a bubble in bitcoin as more people use it it has more intrinsic value and again the cost of producing a bit coin increases with the value of the bitcoin so this is not something that we're pulling out of thin air this is something that's created with massive amounts of electricity and computing power well someone who disagrees with you on the term a bubble when it comes to big coin is mark cuban back in june he tweeted i think it's a bubble i just don't know when or how much it corrects when everyone is bragging about how easy they are making money that equals about now when he tweeted that bitcoin dipped in price how can one person's random twitter thread have that effect on the price and what does it say about bitcoin stability. or is there nothing about bitcoins to go to after a drop five hundred dollars it's now one hundred forty four so these temporary fluctuations are meaningless are created by speculators people who do not understand the fund

dollar.fundamental level, first and foremost we had anxiety over north korea tensions the response from the trump administration has been benign there was no use of those key words, fire and fury or locked and loaded so the markets now are look beyond that. trum p is focused on hoougs eus. when we get talk of tax cuts, that is always positive. so investors are looking beyond that wlifrnlgts did the u. . >> why did the u.s. dollar in the first place move south on the potential missile tests from north korea over japan and the yen move higher? that makes no sense whatsoever if the asian region is under threat that the yen is the safe haven and the dollar is the risk-off trade to sell >> that's a very good question i think there's confusion between investors moving into safe haven currencies and also offloading some of their risky assets there's two types of buying, one is to initiate new positions which is not what we saw after north korea launched those missiles, we saw them abandoning investm

dollar.are waiting to see if there is some moved to turn the dollar around. could today's news be that figure? mark: i am worried that the full horrible sight for the dollar is more weakness because everyone is looking for this. i have pollen in the trap myself for saying that it cannot go in a straight line forever. still remain structurally bearish toward the dollar, but i thought there would be again. there are a number of people who keep on fighting. markets. trending look at fx markets, look at equity markets. trending markets, indicators like the strength index do not matter as much. a pro trendn be signal. i think people have forgotten that we are not training workers again. i am a little bit worried that the vulnerable side has caused the dollar to stop people who are trying to pay for this. guy: what about the treasury markets? there are those and there were a lot of them earlier this year talking about 3% by year end. how many of those have thrown in the towel? how many more still t

earnings are reported in nominal dollars, not real dollars.so instead of going 5% you -- a year, it could grow eight or nine percent a year. tom: is it ok i stole that quote from you? francine: it was great. the problem is that you and the fed would like to see inflation, but when is it coming? christopher: it's like waiting for godot. we think little full employment, with average hourly earnings creeping up -- not by much, but we will keep an eye on that statistic pay up by the end of the year, you will see that being more inflationary, for better or worse. francine: what exactly is priced into the markets? if whether the market is pricing in fed normalization starting or continuing this year. christopher: i think markets are climbing, but this whole health care stuff has been the preseason, and futures are up because we are finally turning to what the market regards as the real meat of the bank, which is tax early, especially corporate tax reform. to the extent that it takes over headlines the next couple of months, that will continue to be

is for the dollar., these are the december futures. whether you agreed this is the right price, but these futures are hot to trot along with steel. do not take this lightly. as we go intoocus the market opened this monday morning. juliette saly has a focus for your business flash. juliette: in the u.s., john kelly has moved swiftly to bring team.to a chaotic job, he isay on the said to have told staffers that, whatever their former allegiances, he expects all of them to put the country first, the president second, and their own needs and priorities last. president trump has spoken overnight to his south korean counterpart about north korea's international -- intercontinental ballistic missile last month. it comes after the united nations security council imposed a sanctions that would ban exports. he tweeted, just completed call. withhappy and impressed the united nations about. venezuela's president has had a group of 20 mercenaries that packed a mercenary base in the early hours of yesterday morning ,

was last down six dollars ninety cents an ounce at one thousand three hundred twelve dollars. with every generation new technology has made life easier in the washing machine to the car however when we talk about new technology invariably the topic leads to drops protections for workers etc joining me to discuss this is aronson darren john professor of business at new york university and author of the sharing economy thank you for joining me on this when your opinion is there any real limit to what an ai could do for businesses or for society is for is not only making making it more our lives more convenient but also helping you know expand the type of jobs we have. well we're certainly going to see a great deal of advancement in you know convenience and comfort because of artificial intelligence and robotics. to be solving the problem of perception being able to see what's around you and make sense of it and of natural language processing in able to communicate like humans and so across a wide greens of both businesses and in the household we're going to see a lot of convenie

will match the first 100-thousand dollars donated. it's 5 xxx and coming up on good morning washington. hard to believe - it's been 20 years since we lost..princess dianna. a look back at her life..and how the people's princess is being remembered this morning.. plus -- labor day weekend is coming up. and this guy made sure he got one last dip in the pool before they close find out how they got him out. cooler tomorrow - rain from harvey late friday through saturday - drier sunday & labor day monday - irma could strengthen to a hurricane today today: partly sunny. seasonably warm and a touch humid winds: nw 5-10 mph tonight: stray shower or storm early. mostly cloudy. becoming breezy. lows: 53-59 winds: n 5-15+ mph friday: mostly cloudy. unseasonably cool. showers arrive late. highs: 65-69 winds: ne 5-10 mph reported at a chemical plant just north of texas. adrianna hopkins at the live desk with the details.. two explosions rocked a flooded chemiclal plant.. live pics.. right now, police are searching for a searching for a woman who t

the dollar's decline since we're talking ninety seven down ninety three on the dollar index now some are saying that is a good thing. goldman sachs has said it's actually an attractive prospect and we should consider a long trade on the dollar thought. well i think going long the dollar would be wrong i mean i think that trade is already played out and i think the better you know the real money to be made betting against the dollar but the question of whether or not a dollar going down is a good thing it depends on your perspective you know if you're a foreign if you don't own dollars if your debt is denominated in dollars if you buy commodities that are priced in dollars but your income is in other currencies that is a good thing and i think the weakening dollar will end up being a very positive event for a lot of people around the world particularly in the emerging markets that have a lot of u.s. dollar denominated debt and especially some of the countries that not only have dollar debt but that export commodities so they will benefit but. it is a negative for america because a wea

you can see it will cost a dollar and almost 18 cents to buy a euro dollar is slightly stronger againsthe yen and pound is stronger against the dollar. >>> check in on bit coin price, given was the crip tow currency is doing all-time high, surpassing 50 billion in market cap. more than tripled. this is less than a week after the new version infused cash into the market. >>> turning to this week's wall street agenda, look for consumer credit numbers at 3:00 p.m. eastern. wednesday, first look at second quarter productivity, labor costs. and jobless claims and ppi >>> about 35 companies in s&p 500 report results this week, retail and media are in the center ground. names to watch, cbs, michael course, kohl's, macy's. >>> softbank shares higher landon dowdy joins us. >> good morning. softbank topping estimates for the quarter. the japanese conglomerate says profits rose more than 50% after they included vision fund as new reportable segment that's the world's largest private equity fund, one of many areas that softbank founder's son has his hand in. has stakes in sprint, allalibab. they're

you know not just of dollars and cents which are a big deal with a lot of money we've wasted and where when not does not mean that the people of afghanistan don't deserve schools and farms and these things they do they should get them if we spend that money it's a joke to sit there and say we spent all this money to help you when i'm sick goats and. you know maybe not dropping bombs on them is a gadget a story that's a holy way to start the first place it's also just the human causes of the supposedly you know isolationist president or the subsidy where he's authorized more drone strikes at five times the rate of his predecessor we all thought iraq knew drones drones and brought the drug a man to the drone who apparently trumps trying to break up. record and when it comes to drones. civilian casualties in the in the war against the islamic state are on track to double their president trial and that's according to air wars been following that for quite some time who are very biased they are going after obama and you know our use of drones and sensibilities we've been killing and it's no

dollar?ndependence of the south african reserve bank is tough at the moment, given the political situation, and certainly given the desire for substantially lower interest rate as we have just been through a recession. we may continue to see extremely weak growth, and we have an environment a secular stagnation playing out in south africa because of very low business confidence and great uncertainty about the political situation. he recently had a 25 basis point cut, and we are anticipating another cut in september this year. i think it is probably a possibility for a further one or two, but we wouldn't look for it to go much below 6%, because we need to maintain a differential between the developed market interest rate. >> it seems that market investors right now are feeling that sense of the central banks moving toward tightening. we had that national bank just pull in euro, canada going ahead. for you, anabel, acid economist, do you feel that sense that we are headed toward a rate hike eve

aussie dollar.ou have is this confidence index coming in at 12, previously it was eight. the risk is this, that the aussie dollar was indeed a little bent over -- sorry, the downside of the greenback is a little bit oversold. that's the risk a lot of commentators are making. we don't often put aluminum in. you have an on track for the highest close in two years in london, and on track for the highest close in five years in shanghai. cuts, andsupply copper is also romping at home. we'll talk to our guest host over the next hour about commodities from j.p. morgan asset management. let's get to sophie kamaruddin, who has your first word news. >> manus, speaking after the china story, the trade surplus expert growth remains solid while imports moderated. experts rose seven point 2% in u.s. dollar terms and imports increased 11%, falling short of economists projections in a survey. that means the trade surplus widened. japan has reported a 36th consecutive current account surplus. june current account su

agree with de vos this is the program on which we should be spending billions of taxpayer dollars. thank you anya joining me today is diane ravitch she is a research professor of education at new york university and a historian of education she is the founder and president of the network for public education from one thousand nine hundred one to one thousand nine hundred three she was assistant secretary of education and counselor to secretary of education lamar alexander in the administration of president george herbert walker bush she is the author of among other books reign of error the hoax of the privatization movement and the danger to america's public schools she blogs at diane ravitch let's begin with would you lay out in your books the miss or laws that are used to sell the charter school system while the myth the greatest myth that we have going today against public schools is they're obsolete they're failing and the evidence is supposed to be low test scores so i spent a couple of years and looked at test scores and found out that the test scores today on the only nation