The week the ruble had struggled in recent weeks as oil prices fluctuated but following the constitutional reform this week the countrys currency strengthened against the dollar its looking ahead now russias alfa bank warned that the u. S. Could play sanctions on russia if the report regarding bounties on u. S. Soldiers is confirmed and lets move over to asian markets where the shanghai composite is up on the week its hitting new 52. 00 week highs the composite gained 2 percent on friday alone after positive data showed increased prospects of economic recovery after the pandemic in hong kong the hong saying also up this week with 3 percent gains on thursday this is after promising news regarding a possible vaccine friday saw gains due to positive Economic Data and even a better than expected jobs report out of the us now some of the biggest winners this week for hong kong were the Hong Kong Exchanges and a clearing ltd and tech giant 10 percent which both hit the 52 week highs. Pans nikkei also hitting that same trend and is up the end lost 2 percent early in the week due to a global search and coated 19 cases but it clawed back those losses as positive data raised sentiment over to india where the sense that is also up for the week is it finished with 3 Straight Days of gains this was pushed up by the countrys Largest CompanyReliance Industries but concerns are growing as india is seeing a record increase in corona virus cases in australia the a. S. X. Also in the green again just under 3 percent for the week the market is reacting to hopes of some future stimulus in south africa the all sure was a roller coaster this week it actually ended up on a stronger rand even as new data did show that the economy was already contracting prior to the pandemic and lets move over to european markets we have some a little bit of a mix here the footsie 100 finished down for the week as concerns over coronavirus started to grow and the country starts to lift more restrict restrictions well the french cac and german dax are in the green for the week as well both fell slightly on friday over the pandemic but positive Economic Data really helped to maintain some of those gains and lets move across the atlantic to brazil where the evil best buy is in the green the end gained 31 percent in the 2nd quarter of this year but its still down about 20 percent from year to date these are from highs seen at the end of january the b. M. V. In mexico also managed to stay positive this week after u. S. Job numbers reported on thursday the mexican peso also strengthened against the dollar as oil prices saw some gains later in the week in the u. S. All 3 major indices the dow the s. And p. And the nasdaq finished up markets were closed friday for the Independence Day holiday now despite new record coded 19 cases jobs data help the indices also seeing the law. Largest quarterly gains in decades after this huge economic losses due to the pandemic at the end of the 1st quarter finishing things our interim toe the ts also in the green the end x. Was close for a can of day on wednesday and it saw a spike on thursday Economic Data weve been talking about but the t. S. A. X. Did take a small hit on friday over a more concerns over the coronavirus job numbers will be a huge factor and what were seeing in markets in the coming weeks as some areas roll back their plans to reopen due to this recent spike in new cases and that is your Global Market walk. Nafta is out and the u. S. Embassy is then as President Trump signature trade deal with mexico and canada is now in effect but even though all 3 countries have agreed to the deal there are still a number of questions about how it will be implemented and the effects they will have on Major Industries are going to love and now to break down the details rachel what can we expect from the new well the german ministration is branding this as the greatest modern trade deal and theyre really amping it up and its interesting because in a lot of ways when you look at it it is the new version of now and when we look at some of the provisions that are included in it we see that there are new protections for intellectual property and digital trade and its provisions include requirements for mexico to enforce stronger labor laws and oversight for its workers and it notably rolls back a system of arbitration that allowed companies to sue governments for unfair treatment now u. S. Trade representative robert light hisor referred to this and that is expected to create tens of thousands of new jobs for americans about something well have to see as it goes on and there might be a little bit of an effect here on the Auto Industry on that sector whats on that front right well the Auto Industry has been hit particularly hard by the coronavirus pandemic in fact theyve are. Ported a drop in cells of 30 percent just for the 2nd quarter of this year now when we look at how theyre going to be affected by this new deal coming in we see that they will be required to use 75 percent of north American Made parts for cars up from 62 percent under nafta then 70 percent of a car steel and aluminum parts must come from north america and a percentage of duty free imports must come from factories where workers make at least 16. 00 an hour now all of these new changes are expected across the Auto Industry at least 3000000000. 00 within the next 10 years and thats after theyve already cut thousands of jobs within the last year thats right thats a huge sector and we know that a lot of the most countrys g. D. P. Comes from the Auto Industry because it employs so many people around the world but what about mexico and canada these partnering countries what are some of their biggest and Major Concerns here well of course President Trump has been very excited about the fact that they agreed to this deal in the 1st place but that hasnt taken away all of the tensions and weve seen reports that when it comes to canada trump is considering actually re imposing a 10 percent tariff on aluminum if the country does not cut down on the exports like the trump ministration is calling for to and then when it comes to mexico u. S. Lawmakers are also voicing concerns and saying that mexico is not doing enough to follow through with those labor commitments that they agreed to in the deal so there are some areas where we could see some conflict moving for a lot of gray areas here locally at least at the to this new deal took effect this week but again so many questions remain as to how they will be implemented especially due to the pandemic thats already affected several countries around the world at least every country around the world by far Rachel Blevins r. T. Correspondent thank you for that report thank you. In the midst of the resurgence of coronavirus cases around the nation more and more people are looking to move to a Cashless Society well that means that fewer people worldwide are handling cash and more are either using credit cards or debit cards Online Shopping or. Looking to use Digital Currency as well a. T. M. Use is down 32 percent and according to visa 63 percent of people are using less cash but there could be more reasons for this than just germs well joining us now to discuss our boom bust cohosts ben and ben lets start with you why are we seeing fewer people using cash these days and is it in part really in fears of transmitting germs. I dont think most of its about transmitting germs even though money is filthy when you do pick it up its covered in germs but i dont think thats really the reason here i think the bigger reason i mean its obviously kind of common sense right when you have the economy shut down across the world fewer people would be accessing a. T. M. s because why do you need cash where people get cash when they go into restaurants when they go to bars they go to nightclubs they use cash when they go to hotels and they use it for tipping people in this case none of those services have been operating for months now and so the shut down in certainly the Service Industry would have a big effect on that plus when people arent shopping as much in stores and theyre doing more ecommerce in order to buy their groceries and have them delivered items from amazon whatever it might be so much of the shopping right now is online not just out of convenience but because you really cant do it any other way so i think thats a lot of it i think thats what were actually seeing when visa says you know 63 percent of people are using less cash and now using online its because they have to at this point while in a lot of stores and restaurants a lot of places are actually doing contactless paying where theyre not even taking cash right thats true no absolutely true and not only that but you have a lot of places where even if you do eat at a restaurant as youre saying you order ahead of time you dont go inside in order so youre ordering that ahead of time online and then you go in and pick it up and pay ahead as well christina the Senate Banking committee is looking into the possibility of now creating a digital u. S. Currency as weve seen other countries do such as and as well and now china how likely is it that the u. S. Will create this Digital Currency even in the near future. I think as an area likely because the pressure is certainly mounting for the u. S. To create this c. B. C. As its biggest competitor and the tech arms race just recently began testing its own Digital Currency that will be launched on we chat and so for us this means that they will fall further behind theyve already lost the battle over 5 g. To china so now its going to be Digital Currencies which essentially will command the future. Sure of International Capital flows so right now thats the biggest concern because if china launches their digital army successfully this will result in a Widespread Adoption of the digital r. And b. To be used in emerging markets and International Trade so countries will no longer be dependent and beholden to the dollar so a lot of this whats driving this decision right now is fall most fear of missing out and its kind of important to note that in News Committee hearings the discussions are now revolving around how rather than if the u. S. Should put together a c. B. C. So right now there is still no active development yet for this any time soon but there certainly is a notable shift and tone which signals that this is a very real possibility especially when states like china and even corporations like telegram and facebook theyre actively trying to take finance into their own hands ignoring the u. S. Students hedging money as a limiting factor definitely looks like the u. S. Is just about ready to join in then do these Digital Currencies harm some of the most vulnerable in our society i mean People Without Bank accounts for instance. Well it certainly can look some of the people in society who do not have Bank Accounts are obviously affected by the Digital Currency or even the Cashless Society as i mentioned before to people who work in Service Industries who are reliant on tips dont necessarily get them as often when you dont have cash and cash to society so i think there are certainly some issues there but remember the crypto currencies themselves were originally designed to go around the Banking System not to be part of the Banking System so the whole idea behind crypto is that you have a Digital Currency that allows you to bank yourself you become your own bank without having to go d through these other systems when the u. S. Government starts talking about doing this theyre not talking about going around the Banking System theyre talking about doing the exact opposite of what crypto currencies are designed to be which is anonymous decentralized and peer to peer instead the u. S. Government wants it to be completely centralized they dont want to be peer to peer they wanted to be still running through them or through banks to you and they still want k y c know your customer and that way there is a control of the system but i will say one other thing i do think of the u. S. Moves into the space its very likely were going to see a collaboration between Silicon Valley and the u. S. Government to create it i think thats what Mark Zuckerberg is ultimately trying to do with libor i think he wants it to become a coin that the u. S. Government would use but remember the u. S. Government constantly outsources right now so many issues to Silicon Valley i think this will end up being one of those things so what about the most Vulnerable People that will that were talking about society not just us of who dont have Bank Accounts but the homeless who usually take cash from people. Yeah absolutely its a its an enormous issue for them its an enormous issue again for anyone who doesnt use a digital system so when you eliminate cash from the system you have to create some kind of method by which people are able to still engage in society financially and right now that doesnt exist really on the Digital Space unless you at least at the very least have a cell phone right christi if the u. S. Does actually move to this national debt. Currency how does that affect decentralized currencies such as a big point that really become true competitors to than the digital dollar. Well i mean if the u. S. Does adopt the c. B. C. Which is a very real possibility right now but quantum would be more valuable than ever because its exactly what ben said theyre not even competitors this is like comparing apples to oranges because the Central Digital Bank Currency will never replace because that is not a true crypto currency its still centrally monitored and maintained it will still be subject to exact same problems that currency has today theyll still be subject to inflation and theyre open to manipulation by Central Banks and make it even easier for the Central Banks to either tighten or loosen the quiddity over so c. D. s these are merely a digital version of the our currency which makes it more dangerous than ever because that means every single purchase every single action will be tracked and we just talked about the currency crisis in lebanon yesterday and if there was ever a currency crisis in the us and we ran on c. B. Can you see us do you think that youll be allowed to swap into a safety currency do you think that you can even swap to gold or yen or anything for that matter like no youll be locked up and forced to watch the value plummet and right now state control is downright just offensive to bit quine which was created to challenge the Financial System and return ownership of money back to the people beyond the reach of state so on the surface it seems like the digital daughter dollar might displace the coin simply because theyre all digital but thats actually the complete opposite it will help that coins popularity because ill make Digital Currency and contact list payments mainstream forced adoption of the well but more importantly people will realise that big point is special because its cares and uncompromising a political and waterless well thank you for clarifying and breaking that down for us because there is that confusion that it would be become some sort of a competition and we know the u. S. Really is looking to move forward with with this who must cohost spend so on and kristie i thank you again for joining us. Time now for a quick break but hang here because when we return our teams rick sanchez joins us to discuss Global Politics them and the pandemics crisis as markets point to some optimism over back in just a moment. Its called the feeling of freedom for. Everyone in the world should experience for me and you can get it on the old the old. The old according to gesture. Welcome to my world come along for the rock. Scene the horrors that arise the money in evil from. Corporate criminals who trashed countless lives to add just one more dollar to their millions. They threaten they bribe theyll do anything to keep their crimes in the door but the people theyve heard are demanding justice their stories need to be told on americas lawyer. Oh. Lay should. Take a bite. We go to work so you can stay home full. Yeah the corporate parasites in power today might think their role in you forever whether theyre right or wrong we have to keep fighting. A covert 1000 cases continue to spike ahead of a Holiday Weekend here in the United States but this didnt stop president truong from gloating over the roaring a column e. Following thursdays job report the one that showed the country added nearly 5000000 jobs in june as unemployment fell to 11 point one percent but the 2 president ial candidates for the november election had 2 very different takes on what this means. Like y