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Anna a warm welcome to bloomberg daybreak europe. I manus cranny. Donald trump with his First Press Conference yesterday, seven days until his inauguration and this is what he managed to interview as the ,arkets, the trump trade because of the lack of detail, we have a great quote from oscar wilde, in matters of grave importance in terms of physical, style not sincerity. Ofhas delivered a lack detail, and thats what the market has latched onto. His Donald Trump Style this is the dollar index. You can saven, but the trump mania trade has faltered. Anna show me the details is the market of the message the message of the market. How much does he cut back on globalization and what kind of fiscal stimulus, more importantly. Was that an unfair expectation . He was dominated by russia and Donald Trumps business inter ....
Bulls back in their pan . Big enough tot insulate investors from the risk . We are less then 30 minutes away from the european open. Lets take a look at where futures are trading. You can see down across the board, we finished with all green arrows. Speaking atp began the close and even the u. S. Market closed positive. Even as people bought treasuries and sold the dollar. Maybe today is the day of reckoning. We will wait and watch and see what is happening. You can see them bloomberg dollar index is down overnight. The yen is up by nearly a percent. The nikkei is down by 1. 2 . A big off day there. The euro is higher. Youll get accounts from the ecb. Let me walk you over here as well. Gold reasonably well bid. Up by. 7 of 1 fitting in with the narrative surrounding what we got from trump yesterday. Front and index center at the moment. That is the trachea watching very carefully. The treasury market is feeding off that. We will wait to see if today is a day of reckoning. Interesting m ....
Warns of huge consolidation. Opec dissents on the in a. Crude dissents under 50. Is saudi arabias oil minister calling the shots . A warm welcome to the program. Lets have a look on what is happening at the futures. We are not getting an incredibly strong picture from the futures this morning, i have to say. Weve got euro stocks up just a fraction at the start of the are p and trading day. The ftse 100, perhaps its a little bit on the back foot. Of getting a great deal momentum perhaps coming through from the asian session. We still have some big agenda items on the radar with the ecb meeting and the jobs report, plenty still to digest. Matt take a look at the nikkei, down 1. 6 . Take a look at the yen strength that we are seeing, 109. 95, how many yen you get for your u. S. Dollar. The aussie dollar on the other strength,owing some not the kind of strength we saw earlier in the session. We saw an hour ago a 1 gain against the greenback. 0. 5 . Only see it up losses in brent, the globa ....
Of the year until now, it is an uproar. Anna and we are live in paris at the annual forum, where we speak to the organizations secretary general, angel gurria. Here, on bloomberg. A very warm welcome. I am anna edwards in london. Manus good morning. I am manus cranny, in dubai. The china danger, should be drawn into the moment of calm . What is really going on. Dollaryuan,w you near a five year low, the title of this chart is yuan on the brink. This is january time. That is the fiveyear low. Alone,back 1. 5 in may the biggest loss since the devaluation last year, which was back here when you saw that ratcheting spiked. But this is really the interesting part. The fx reserves in china, they are building a lot, 17 billion in march and april. Are they really that volatile about defending the yuan . Capital outflows are getting less and less. Low,ollaryuan, fiveyear do we just drift that lower on the back of that data . There is many more questions than our answers in terms of manufacturin ....