oracle placing blame on something plating -- plaguing many seleka and valley companies , the strengthening dollar. we've seen hp struggled with this and facebook struggle with it. how much of this is the strong dollar, and how much is it just oracle not performing? grexit's accommodation aboard -- commendation >> it's a combination of both. it's partly a transition to the cloud. they were late to the cloud. microsoft is well ahead of oracle. and you have the continuing fx headwind. this is partly oracle's execution. emily: let's talk about the cloud. oracle reported an increase in cloud software. what kind of progress are we seeing and what more do you want to see? >> won the biggest things you see when you look at a company undergoing transition is cloud license sales. bookings were strong in the cloud and they are forecasting 60% growth in cloud revenue for next year. when you have companies moved to the cloud, you will give up on the license fee and make it up in the subscription. so there is a lot of that going on and the earnings as well. emily: oracle is really banking on cloud to co

up to 5.1%, china doesn't seleka great deal given the amount of money. headline figure, may industrial output up 6.1% year after year. anna: the bank of korea lowered key interest rates, the central bank cut the seven-day purchase rates to 1.75%. the merzs outbreak has killed a lot of people 122. guy: germany's angela merkel -- putting people familiar with the position. a government spokesman denied this, saying germany will only respect proposals from the imf and ucb. ana: the rate was cut to 3.25% the banks forecast assumes one more rate cut by mid-2016. guy: central bankers back and acting, making waves. the kiwis cutting rates, south korea also cutting the left-wing for hours. let's talk a little bit about what is happening around the markets. james, senior affects strategists. we should stop thinking about it being multiple policies, we should think about it being currency policies. everybody is trying to have an impact. >> missing the cuts today, they have been the ones very vocal and trying to extend the currency. it is quite interesting in the cu