let's bring back marc chandler.s average prices across the united states of $2.29. we did that a couple of years ago when oil prices fell and gas prices fell, a big jump in consumer spending per now you can see the trend going the other way. do we worry that we are going to see consumers pull back because they have to pay more as oil prices go up? marc: it seems to me that we will change with a mix of the kind of autos we are buying. we still buy the gas-guzzling suv vehicles, and general motors has cut down some of its plants, producing cars because of its inventory. i do not think the rising gasoline prices is yet sufficient to curb the underlying domestic demand created by more people working, getting paid a little bit more per hour. michael: let's come back with marc chandler and talk more about currencies and the global outlook. coming up later today on "what did you miss," a conversation with bob sinche, amherst pierpont. look for that at 4:00 p.m. in new york, 9:00 in london. this is bloomberg. ♪ francine: th

really looking forward this morning to marc chandler. which way will the euro break? is bloomberg. ♪ tom: francine lacqua in london, and i am tom keene in new york. michael spence from new york university, and ambassador haass from the council on foreign relations. what an honor that the two of you are here with all this going on. we were talking about this in the break about the old and the new. so reaganesque -- there are many articles about being like comen, i am like reagan -- on, you cannot be. it is not the same world as ronald reagan had. reagan came into office with a really developed philosophy. he had written letters and articles for years, given hundreds and hundreds of policy speeches. politics was different. washington was a much more malleable, functional place. now because of reforms about how politics are conducted and societies have changed, it is much harder to garner concentrated political or. but there is something -- michael called it animal spirits -- there is a sense with where we are economically that this is a moment where we are going to go f

richard cucina, marc chandler, thank you. that ecb policy decision tomorrow, 7:45 eastern time, followed by president draghi's news conference, which we will take in full here. david: coming up, taunting china. donald trump's tweets continue to test the far east. richard haas takes a look at china's emerging strategy in dealing with the president-elect. this is bloomberg. ♪ emma: this is bloomberg daybreak. coming up in the next hour, the quicken loans ceo bill emerson. david: this is bloomberg, i'm david westin. donald trump is making news this time not for a tweet. he has been named time magazine's person of the year and he has also called the today show on nbc to talk about that. for more on that we are joined by our executive editor for international government. tell us what news donald trump has been making today. >> the news really came from external sources when time went on the today show and announced donald trump was person of the year. and magically, donald trump called in immediately after. david: he just happened

tomorrow on "bloomberg thisillance," we focus on with marc chandler. 6:00 a.m.00 a.m. in london. when you look at some of the fx moves today, dollar is actually strengthening against most of the major currencies. gold is reaching almost two-week high. this is bloomberg. ♪ michael: good morning. i am michael mckee in new york. francine lacqua is in london. taylor riggs is with us with "bloomberg first word news." taylor: today shinzo abe becomes the first japanese leader to visit the memorial to the american sailors and marines killed in the japanese attack on pearl harbor. he will be joined today by president obama. in israel, prime minister benjamin netanyahu's critics are coming out in force. opponents initially joined him in attacking the united nations security council for condemning israeli settlements, but now they blame him for harming the country's standing and its foreign-policy. in colombia, and investigation blames a series of human errors for the crash that killed the 92 people. they say the plane should have been allowed to take off with enough fuel