they welcome the rba 25 basis point cut. tomorrow australia will release first quarter gdp expected to grow about 0.7% on a quarterly basis. kelly, back to you. >> we'll send over to louisa how to get a check of markets this morning. euro has turned negative. >> not seeing that in the equity markets in germany he moment. we're seeing meager gains added. yesterday on the close, we saw pretty even teacstevens split. what we're seeing this morning, cautious gains. xetra dax higher by a quarter of a percentage point. spanish market by 1.2% and the smi higher by right around half a percentage point or so. just showing you what's been taking place with the spanish banks. in yesterday's session, we saw a real rally. we started to see these gains coming through in the spanish banks. that continued throughout the rest of the session and indeed on the close yesterday, some of those banks higher by as much as 5%, 6%. this morning additional gains being added on. this offer the back of some of the political noises. g-7 holding its confe

it looks like the rba is going to make a move tonight.he rba has been concerned as you guys were discussing about the deterioration in global confidence. that's stemming from the eurozone crisis. and its persistence. there's a lot of risk events as you just talked about coming up in june. most notably the greece election on june 17th. the rba wants to get out in front of that and cut rates now in case there's an external shock, basically. so tonight i think the policy action that they take is going to weigh on the aussie. if they cut 25 a dovish statement. if they cut to 50 basis points it's a little more than the market has priced in now. either scenario is going to weigh on the aussie. look at some of the levels now for the trade. i'd like to be short aussie/dollar. .9730. maybe lower right now. looking a move down to .95 p figure. a stop up to .9830. >> a trade you want want to put on now obviously before the decision is made. there's a window of time here. >> yes. the decision isn't until about midnight tonight. you do have until then

>> good morning, sean kegren, rba. i want to add some historical context. about five years ago, the department began an expensive and exhausting bpr process. that process came up with a list of goals, objectives, and recommendations, performance standards for the department. naturally, some of those goals and objectives took more resources. that led to a conversation about an increase in fees. there were hearings here, and at the time, there was a compromise -- to be blunt about it -- increase in fees for increase in services. that is how it was sold to the industry. we have been paying our fees but we have not quite got the service. shortly after, the economic collapse occurred. there was a need for change. this department went through a very difficult time, and we understand, cuts needed to be made. but now that we are beyond that, now that the financial winds seem to be changing, it is important that we wrap up this department and we do it in a prudent and responsible fashion. this department and the commission has a commitment to the industry, to its st

. >> my friend, phil cox, josh robinson, paige hon at rba, they put together the money and get out thetion in wisconsin, record for them. congratulations to a great team. >> rga gets overlooked, rnc has been -- >> my alma mater. >> a lot of romances on the obama campaign. my sister recently got engaged to robin frankel, former deputy speech writer, so always in the family. >> love is always in the air. >> always. >> thank you all. that's it for this edition of "daily run day." tom, ron barber running for gabby gifford's sheet. up next, chris jansing speaking to bernie sanders. bye-bye. ♪ ♪ ♪ ♪ ♪ and on small business saturday bothey remind a nations of the benefits of shopping small. on just one day, 100 million of us joined a movement... and main street found its might again. and main street found its fight again. and we, the locals, found delight again. that's the power of all of us. that's the power of all of us. that's the membership effect of american express. after just one use? think again. [ female announcer ] with olay regenerist wrinkle revolution, it's possible to reduce the

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the overabanks rallied on the t expectation of a meeting of the rba on monday. >> and everyone just looking ahead to events in greece this weekend. voter gearsing up to head to the polls on sunday. the vote widely seen on a referendum of the euro zone. reports say secret polling numbers are circulating around markets and driving markets higher. joining us is julia in athens. where do these secret polls come from and what's been the implication? >> most of the polls now are seeing new democracy in the lead ahead of syriza. in the past syriza was four percentage points ahead. yesterday markets ended up ten percentage points. people on the on the undersided numbers, which is around 20%. what we saw in the last election is undecided people did block to syriza. the key takeaway is this election is wide open. the obvious moderate or the benign outcome would be a new democracy, forming a coalition with the left party, but you have to question how stable that party will be with a strong syriza in opposition, and then what happens next. the ft is reporting that the eu commission may be willing to gi

investors will be waiting on the rba's policy announcement out in australia at about 6:30 central europeane. that country wills also release first quarter current account figures at 3:30 central european time. and global experts will be gathering at the world gas conference. cnbc will have live coverage. >> and now from that coverage over to a different type of coverage. namely queen elizabeth ii who celebrated 60 years on the thrown, 1,000 boats. the queen was joined by the other members of the royal family. crowds of thousands and thousands of spectators lined the banks despite the very damp weather. i have to say i was out yesterday and i got absolutely drenched. >> i think we could call it a downpour. >> very sad to see all these small children all wet. but the celebrations continue today with a pop concert to be held outside buckingham palace followed by fireworks display. >> i was by buckingham palace last week when they were setting up for it. it's a huge operation. i think they had to bring in architects to help build this thing, not just set designers. >> i wouldn't be surprised.