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To very warm welcome bloomberg day break. Im anna edwards. Lets talk about some of the extraordinary price action that were seeing in this environment with regard to the euro this morning or in the middle of the trading day in asia. Extraordinary is the key word in all of this. You would have missed out on a 1. 6 spike on the dollar. Take a look at what were seeing here. Even pulled it back on four trade full trading days. 1. 6 . We spoke to some of the Foreign Exchange traders out there. They said you have algo rhythmic letters snow building a. That snapped out the liquidity that was there around the turn of the year. Bear in mind some of the traders had to move in there and take losses to cover the positions. We saw a spike in the euro swiss. Move saw this specific against the dollar. A bit of a weaker dollar but in the scheme of things in the scheme of the eurodollar trade, this was a big move, anna. Algorithms being mentione ....
Percent here in europe as stocks start to open up for trade. Lets delve into the sectors. We saw on wall street the hand over has been where the markets closed a little bit weaker on the dow over what weve had. But in term of the sectors its about rotation. Thats whats been happening in the underlying trade on trade. Not buying index but rotating on sectors which is why this picture is so important. Oil and gas right at the top. Health care at the bottom. But all stocks are moving higher this morning. Health care, the sector a tenth of a percent north. Travel and leisure getting a bit of a bump up. There are some decent percentage increases this morning but banks. 4, most stocks in the basket trading. Retail. 4 higher. Pandora the pop of the basket on the back of its numbers. Stocks are racing ahead. Three top performers, media stocks, bp and gas is. 9 higher. China macro data has been positive for the overall sector. 9 on its trade. Lets look at individual indices. 20 points off the 7 ....
Tanks another 98 employees good we are going to see employees. We are going to see the bloomberg taking us out. We are on the euro stoxx up by 1 . The ftse 100 up by 1. 1 . The cac up just shy of 1 . In forive start priced european stocks. Caroline significant moves in the euro stoxx 50. Check out on the fx market. Currently similar moves we saw in asia. On was that risk flooding into the equity market in asia. The british pound up. 4 , up against 31 of its trading partners today. The euro up. 4 higher. They are one of the most accurate forecasters of the british pound. 1. 15. 15 brent crude up 3 . We got a great oil guest coming up. U. S. Pulling back production and boosting overall crisis. Lets get more on what is happening in the wood of business. First word news with selina wang. Caroline could voting has begun in britains the stork referendum. Britains historic referendum. We will be following all of the action with special coverage tomorrow. The ecb has reinstated its waiver on g ....
It is the first interview on bloomberg and we will talk about that story. Lets talk about the story and get news with caroline hyde. Caroline Federal Reserve chair janet yellen said that while the rate hike may be delayed by the turmoil in market, she will not abandon the program. Making the twice silly address, she said recent volatility has tightened financial conditions and could weigh on the economic outlook. Levels not seen since before the bank of japan surprise monetary easing back in late 2014. N 8 monthbed two and 8 high. Whohedge fund manager successfully bet against mortgages during the subprime crisis. Thinks the worlds secondbiggest economy may have to print more than 10 trillion yuan. The ceo of frances secondbiggest bank thinks markets are overreacting. He told bloomberg that the current climate is nowhere near as bad as 2000 an8s crisis. This is that its too low we has nothing to do with what we saw in 2008. The < ....