Index, just marginally down. The real story has been the bounceback after last weeks fall for bitcoin, approaching record highs. 19,595. 1. 1 to the upside. Drivings within opec that crude oil price down. Lets look at what is going on in the emerging market context. Asian markets are bouncing back nicely after yesterdays big move to the downside. What has been responsible for this change in mood . , onethink first of all should partly see yesterdays price action as an anomaly. I think the Way Investors are now returning to the positive things like easy fed policy, Global Economic recovery, which was confirmed by asian pmis and the index that just came out, and optimism about vaccines. Juliette and your team has written a piece on the e. M. Currency outlook for 2021. It reads quite positively. What is the basis for all that optimism . Maybe there are three reasons. First, valuation. We believe that emfx is undervalued and conditions should be conducive to pushing them into overvalued te
Want action to stop the virus fallout. Nato calls for International Cohesion on security. Consumer Price Inflation breaking out of south korea. We are seeing month on month deceleration of. 1 . The deceleration, though, is easing from the previous month when we had been pulled down and undershooting Inflation Numbers because of subsidies from the government. Also we are seeing acceleration of 0. 6 when it comes to the euro. Slightly missing estimates, but when you seek out fresh food and look at the core cpi numbers, it is still growth of 1 . Of course, we still have some spare economic capacity in south korea, but remember the Third Quarter final gdp numbers actually beat expectations, and still, Inflation Numbers are very much away from that target coronavirus pandemic raging across the world. Haidi we have just had the beginning of the testimony of the rba governor, appearing before the Economics Committee today, so be watching out for some of those, particularly regarding news on t
Rally has fed into crude. Propelled thates price. People look beyond the covid to a look beyond to a returned to normal. Gold pretty much stable appeared bitcoin at record highs. Up about two thirds of 1 . We have a u. S. Dollar index unchanged. Lets have a look at the copper price. Copper advancing. The highest price and a more than six years. It is under president elect joe bidens formal transition. The hope is there will be a move toward a Lower Carbon Energy future. That britain the outlook for its demand. As has what is going on in china up. Joining in all of that. Lets have a look at the transition in more detail as we get over to new york and join Karina Mitchell for the first word news. Introduced biden has his foreignpolicy and Security Experts as he seeks to calm relations with International Friends and foes. The president elect is promising a multilateral approach, reversing the America First tragedy of the Trump Administration. He will prioritize ending damaging executive o
Upside. Looking at commodities. Crude moving to the upside. A big move to the downside with , on the vaccine and signs of Economic Growth in the u. S. Particularly helping people not to look for havens or avoid havens, get out of them. Gold down half of 1 . Bitcoin surging up again, it has above 18,500. Juliette lets get the first word news. The head of the u. S. Government Coronavirus Vaccine program says results of trials by astrazeneca show encouraging signs it may help block the most severe cases. No one given the vaccine developed severe covid, while 16 people on the placebo debt. He called the results excited. Nine, reports 70 process astrazeneca report 70 success. The centers for Disease Control a model shows weekly u. S. Cases and deaths rising every week for at least the next month. Italy is the Second European nation to report 50,000 total fatalities. The u. K. Is extending lockdown next week in favor of even tougher regional curbs. Reports from washington say the Trump Admin
We are watching the hang seng index. Australias market is only higher by 0. 3 . But we had this news that china will allow australias cargo to come ashore. Lets have a look at stocks. Clearing exchanges in focus. The u. S. Approved legislation that could lead to chinese firms getting kicked off american exchanges. Also getting a call from sidney. Tak is down 1. 4 . ,his big surging iron or holding at a record. In recent weeks, weve seen pickup of state owned enterprise default in china that have jolted the credit markets and rattled investors. One company in the spotlight is ever grand, which has accumulated the biggest debt in global real estate. We are joined by Stephen Engle in hong kong. In ournt to bring distinguished guest, the ceo and cofounder of sc lowy in hong kong. A bank and manager that specializes in distressed and highyield debt. Good to see you. You spoke to bloomberg about a month ago and you did talk about ever grand. We know that they have taken steps to increase or