singapore dollar falling. momentum in the singapore dollar has a decidedly been the dollar strength. that is the dominant force in most of these currency markets. 13515 is where we are at the moment. this is the third biggest losing her and see in the agent market. that is impact of the singapore essential right. today want to keep an eye on the dollar as well. we do have a bit of a wobble. was i did on those durable goods. but i was off by 300 points. it is fed they. will janet yellen and her cohorts remain patient in terms of where the languages from the -- no change in the linkage will allow the dollar to actually build their position again. any little bit of a dip is something that you want to reenter for the busiest desk foreign-exchange trading is that a record. that is the highest since 2004. keep an eye as well on the aussie dollar. they broke trend. the aussies would cut rates next week. that probability is drop to barely 70%. hello again. who said it was a bygone era? anna, back to you. >> apple repo

this is the singapore dollar down and the u.s. dollar rising. i am seeing calls for this currency to move to potentially 140 in the next three months. the singapore is at its weakest level since 2010. they have reduced this moving their currency. they cut their inflation target. that is going to come in and deflation, 0.5% from the downside. i love the aussies, because they kick back. these boys have a little bit of inflation. that caused the fx markets to shift their thinking. they moved to a near 50% of ability of a rate cut to 17%. the aussie dollar back to the level. that is between the level. a lot of people were saying you would open down to 75 over the near-term. it looks like we have just eaten in a base for them -- have just been dipping into a base for the moment. it will be a statement as opposed to a news conference. it will be the tonality of what janet yellin and her cohorts say. will they remain patient? what does that actually mean? we are in a different economic situation. is it right to assume the patients is six months? over 70

. >> if we identify the usual suspects right now, australia canada, scandinavians singapore dollar, thatld attract interest as well. hong kong-dollar as well. i think that allocation affects people chasing nonzero cash. >> chasing nonzero cash. rand, i get that. singapore, aussie canada. sterling, why not. 0.75 almost seems like a frothy rate. how do i find those trades? do i find it in yen or in euro? or have i got it wrong? >> i think the smb is doing a good job encouraging you to fund that with swiss franc's right now. yesterday was the day when the new negative deposit rate started to take effect. we are seeing some domestic swiss banks charging account holders negative rates. if that goes lower, you could see the swiss central bank trying to get some funds out of these markets. it is very liquid right now. >> very illiquid in terms of the swiss, tell me what that means. are the big players going, we don't want anything to do with this trade, euro-swiss? >> you have to look at the two sides here. in hindsight, the big liquidity providers the swiss francs and the smb. they went away.

singapore dollar we saw the weakest level in nearly five years. a degree of stability for the southeast asian markets as a result of this edged higher as did bangkok. they're in sharp focus this week. a lot of the policy meetings are live meetings. later on this week we'll have malaysia and thailand reviewing monetary policy and the new zealand central bank. very quickly, shanghai was the underperformer today. the financials the property market and energy stocks got hammered. we're down by 1.4%. back to you. >> sri, thank you so much. coming up on the show just 99 days and counting until the u.s. general election. we speak to the former conservative party leader william hague about the close contest in an exclusive interview. that's coming up in 20 minutes times. canary wharf developers expected to accept a take over bid. >> and sony shares jump as the group plans to cut 1,000 additional jobs. we cross to tokyo live for all the details. right! now you're gonna ask for my credit card - - so you can charge me on the down low two weeks later look, cr

. >> carl's dying to ask about the singapore dollar a huge mover overnight. >> did make headlines. >>tral banks are surprising cutting rates, fighting the currency war to get currencies weak. is the dollar going to sit out and the fed sit out and let itself lose the war? >> well i doesn't characterize this as a war and there are winners or losers in this. i think the u.s. economy is more robust than all of the other economies out there. it can withstand a stronger currency and there are feedback looms. the stronger dollar will mean the fed will do less tightening. you know seeing disinflation forces in the u.s. economy and that will have an impact on fed policy and will take a sting out of the stronger dollar as well. >> german finance minister can't imagine a haircut for the greeks. be fair to other constituents. a, do you believe him and, b, there's a school of thought that say let them go and take liabilities with them. >> the second part of the question, i'm not of the school of thought you can let greece go. i think ramifications are enormous, to the extent if greece goes the mar

singapore. >> now japanese yen currency is quite low. converting dollar to japanese yen is a lot of benefit. has been flowing into singaporean property in recent years, sending prices sky high. real estate in japan is cheap by comparison. a two-bedroom apartment in a tokyo condominium was priced at about $570,000. a similar place in singapore would cost 50% more. >> translator: an increasing number of foreign investors regard japanese real estate as relatively cheap. most of them are investing in japanese properties right now before it is too late. >> professional investment advisers like those at this multinational accounting firm are also watching tokyo as it prepares to host the olympic games in 2020. the firm picked japan's capital as the number one asia pacific property investment this year. >> confidence in general that prospects in japan will remain good. it should be said that sentiment in japan is pretty strong. >> reporter: from tourists to investors the weaker yen is making more people overseas bet that tokyo is the place to be. takuma yoshioka nhk world, singapore. ♪ >>> people i

the letter is facing legal action in singapore after a three to ilion dollar trading loss. -- $32 billionhe executive committee trying to get a bonus this year. rory cullenen. bonuses at rbs bad bank are likely to exceed other units that were hobbled by poor performance and find -- fines. investors are concerned the patent just granted to apple pose a threat to gopro. gopro is the biggest maker of wearable cameras. >> back to markets, we could get a definite answer on full-scale qe when the ecb holds its policy meeting. next thursday. but an earlier on buying program may limit the scale and the scope of any quantitative easing package. this ruling today -- we spoke to a reporter in berlin, is critical. if it goes against mario draghi it makes his job so much harder in terms of enacting qe next week. >> one way or another it will have to do something. whether directly or indirectly through the banks, this decision may mean they can't do it directly but can do it to the banks. so the banks could do the buying rather than the central bank itself. >> how crucial is qe? your focus on the small

chicago futures pointing to a higher open along with singapore futures, just clash of minutes ahead of the open here. the dollaring steady at that one-month high at 117, 55 against the u.s. dollar. if you use twitter, it is easier to stay in touch with us. first up in asia, for example. that smiley face of his, follow david. sherrycourse, the lovely . john dawson, he is -- looking ahead on the show, the.com debut. we will ask why fewer chinese internet companies will go public into the 15. kind out to the openings in korea, whether you are watching weak aussie dollar is with shares rally and -- and off with shares rallying. fallout from these was banks for his losses with a hedge fund wiped out. morning to you, i am angie lau and welcome to "first up," coming to from hong kong. you live from hong kong. leaders, quality bumping up -- probably don't fix the australian dollar. weaker australian dollar hoping to boost the profit forecast. futuresst opening, pointing to a higher open and that is what we have .9% higher. dollar-yen weakening. want -- collision -- korean won ganining. the fallout from the swiss franc

singapore. >>> now look at financial markets. the u.s. dollar is regaining some ground after trading lower this morning. this after friday's payroll data in the u.s. revealed an unexpected fall in wages. here are the numbers. 252,000 jobs were created in december, which was above forecast but down from november. wages posted their digbiggest decline in eight years. the debate continues on whether the fed will raise rates sooner than expected. >> central bank policy and the outlook for the u.s. economy will be the big themes to be discussed and the golden sacks global strategy conference today. let's get to jeff on the ground at the conference. jeff? >> thank you so much. good to see you this morning. chief economist at goldman. and lots of issues brought up in the studio whether the payroll number moves the needle at all on fed interest rates expectations expectations. what do you think? >> i don't think anything has really changed. the economy is doing very well. we've been seeing that for quite awhile. we look at our measure of economic activi

the monetary authority of singapore said it will seek a slower pace of appreciation in the country's dollarannouncement sent the currency to its weakest level since 2010. it also cut its inflation forecast for 2015. today, we hear from the u.s. federal reserve. the fomc committee releases a statement at 7:00 p.m. here in london. economists say policymakers will keep their language pledging to the patient this year. for more on the fed, let's bring in barclays' chief european economist. thank you for sticking around. we talked about greece, the implications of qe, and russia. the fed, will it raise rates this year? this is a question that, when i was in davos, talking to experts, they were split down the middle. maybe more people now saying it will come in 2015. >> [indiscernible] clearly, what has been happening all over the world cannot -- it will have some consequences. even though the economy is doing well and it would make sense to start the hiking cycle, the fed has become more and more nervous. they could have some long-term impact on inflation. also, because what we see today is the

dollars and $4.5 billion respectively. >> what else can you tell us about the newest richest men in singapore?t much unfortunately. he maintains a pretty low profile. all we know is that he hasn't been involved in the active running of his company for decades. his son has led the company since the 1980's. and we also know that goh is a big fan of luxury boats. he has a yacht that is six he one meters long called the white rabbit echo and it is worth a cool $31 million. >> that's not petty cash. thank you. >> the big names in business and politics for the world economic forum a good time for high-end hotels. it is one -- is one week a year enough to sustain it? probably not. >> the dev us -- the dow posts -- the davos known as the golden age, the likes of richard branson and bono stayed here last year. every january it's guarded by swiss soldiers. but it mean a be enough to protect it from bankruptcy. so where did it all go wrong? other than the week of the world economic forum, 216 room hotel struggles to fill its space. hard to believe it could fail. one of just a few five-star hotels, credit

singapore. the telcos are low. shanghai is resuming where it left off. obviously the 1.3% -- another 1.3% for the index. quick check, i mentioned shanghai continuing oil is also continuing. crude, about a dollar. we have bread 80's and slower -- $.80 lower. production in russia. a post-soviet record. direct exporting -- direct exporting 92 -- iraq exporting 92.9 barrels a day. you are looking at $80 a barrel with a long list of brokerages that currently forecast -- have cap forecasts. reduce the upside for long-term investors -- very do see upside for long-term investors. checking in on futures, a change from friday, we were down four points. back on track, 42,000 four the benchmark. >> a drop to the lowest it has been since 2006. ecb will they won't they? >> it was flagged up for december but nothing happened. it caused a sharp in the markets that dr -- sure in the markets. we are clearly expecting a big government bond post, quantitative easing, on the 22nd of january. the inflation data is out on wednesday. >> retail sales the next day. >> interesting. look forward to seeing how the germans are spending. glenn maguire is the head of fx at a&z bank. theory is commenting here he is commentin

singapore with more than 35 million containers last year. that compares to its rival doing 3.9 million. the news comes as shippers meet large demand. more declines for the aussie dollar. blackrock says the currency may fall as much as 50%. that is the lowest prediction of all analysts we surveyed. they claim the commodity slot which has hit copper and iron ore. it has tumbled trading near its lowest in years. and rio tinto in sydney for you right now. it is just less than .1% down really paring back the losses of the morning session. iron or possession -- production rose 12% in the fourth quarter. stockpiles are growing as demand slows in china. that pushed iron ore prices down more than 40% last year. >> we have the winners and losers of oil's dramatic decline. we will see who is smiling in this region and who has been taking a hit. china gdp in the mix as well. our next guest was spot on. he will be joining us after this break. ♪ >> chinese gdp came in close to expectations. we have been talking about it all morning. we are still to see the impact of the oil price drop. >> we have been tracking disinflation in china since the first quarter of 2013. we have seen a s

singapore. what are your your expectations looking like? >> yeah. we actually kept the position on u.s. assets, especially the u.s. dollarso we are ahead of the curve especially ahead of break -- rate hikes. there is more stimulation in the economy, and we also feel very comfortable in turn of investor expectations on the high side so those are some of the key calls that we are making. india, in particular, and also export markets, like taiwan. >> ok, let's start off perhaps with growing economics, let's start off with china, the biggie here. we were talking about the shanghai at market over the last six month, and with reform, how does that play out as beijing lowers its growth forecast? >> yeah, growth forecasts are almost inevitable, we have a six play eight growth forecast on the side, but i think we are moving closer to our number here, so frankly that is still very enviable growth on a global scale. the gnu budget reforms and one reform, one kind of reform that our investors are directly benefiting from, because many of the big esso ease -- soe's are -- it seems the government is serious in reforming those companie

singapore. brokerages leading that drop off , with a crackdown of trading with borrowed money. it means nearly a quarter of a trillion dollarss been wiped out in one stage. >> i am shery ahn. also coming up this hour is the changes in the works in macau. how china's drive against corruption has altered high-end games. plus, the raffles is his canvas. the singapore billionaire who hated his way to the top. and we need the father of snowboarding. all that and more in "asia edge." >> top stories, mainland shares in china plunging after three of the nation's biggest brokerages were stopped from adding margin trading accounts. stephen engle's on top of this. >> we've seen with market checks that these brokerages are taking -- taking. >> down 3%. >> the biggest. keep in mind citic and hai

singapore and canada -- >> in reality, it won't matter. >> exactly. >> why bother listening to the fed? the markets really are saying something very different. a tiny gulf nation with big ambitions. qatar investing billions of dollarsamerica. the finance minister joins us for exclusive interview, next. shell is lashing billions in spending as oil prices crash. ♪ >> let's look at the world headlines. israel and has below have signaled they want an end to border clashes. -- israel and hezbollah. israel's defense minister sending the key message -- inflation rates turned negative in january, signaling that europe's largest economy is succumbing to the deflationary crisis. economists had predicted a drop of .2%. shell says it will cut spending by $15 billion after the company missed fourth-quarter profit forecasts. they were not immune to the crash in oil prices. >> of course, we are not immune to low oil prices. we see pressure on our investment program. we see it as an opportunity to work hard to reduce our capital costs per project given by the opportunities that we currently see as well. >> staying on the international beat and oil, and a story centers around qatar. best known as the richest country in the world, q

dollar. you have a bank remaining on a tightening bias since 2013. he says there is a shift to neutral. a hint that they could counter rates. the sins something -- canada did this. singaporeal bank so far. you could see a change from them. anna, back to you. >> the top bloomberg headlines. the chair of the board says greek banks are capable of surviving. she says the banks have done a lot of work to strengthen their balance sheets but faced difficulty. >> the greek banks are facing difficulty right now because of the recent elections. they are pretty strong. a lot of good work has been done to transform the balance sheets during the last years. they will hold the prices. >> facebook planning to spend a big in order to chase growth. mark zuckerberg says his company will invest in messaging technology across the web. >> the main priority is capitalizing on the shift to mobile. making our ads more relevant. we believe the marketing the market increasingly understands we have the leading products and are the only platform that delivers people-based marketing and scale. >> patients is still the word for janet yellen and the fed. patient remains the fed's keyword. the statement

singapore. the cost be up 0.4%. we are seeing a drop in the japanese yen. i will show you what is happening in just a moment. top performer, the nikkei 200 205 -- the nikkei 225. the dollar is softer. it spiked in the last few minutes or so. dollar-10 climbing up as well. -- dollar/yen climbing up as well. a huge move down yesterday, 17% drop in 10 year yields. i think we're seeing a bit of a rebound today. food prices, we are below 48 for the new york knicks. as you can see, brent is below 49. that is obviously weighing on stocks. in australia, that sector group is getting hit the most. oil and gas down 2%. a big move down on oil prices. iraq the latest in terms of news. record output weighing on the outlook for supply. there is a glut. obviously not helping the case for higher oil prices, as you can see on the asx 200. >> let's look at crude at the moment. thanks for that, david. let's look at what the impact is . following currency -- shrinking. hsbc says there is more on the way. >> we are expecting an across-the-board squeeze for crude sort of a snowballing with hsbc saying that well-funded public spending will fall. investment will fall. consumption will fall. all