It is decision day for the yuan, the largest pension fund in the world loses $ 64 billion and is a huge week to come up. Here are some of the things that people talk in the markets today.
1. IMF decides on the yuan
At its executive meeting today in Washington, the IMF decided to grant yuan the status of China as a reserve currency by adding it to the special drawing rights (SDR) basket fund. The decision is almost certain to be to include the yuan after IMF chief Christine Lagarde said on 13 November that the staff of the organization supported the inclusion. The offshore yuan jumped at the bank suspected central intervention overnight that the delivery of land prices briefly widened to its largest since September.
2. the largest pension funds in the world loses $ 64 billion
Pension Investment Fund of the Government of Japan has lost $ 64 billion in rout stock markets in August and September, documents published in Tokyo this morning show. The fund 135100000000000 ¥ ($ 1.1 trillion) decreased 5.6 percent in the last quarter, the largest comparable data as of April 08. There were a mixture of data from Japan Monday sales retail beating expectations while industrial production increased less than forecast.
3. Metals hammered
Iron ore futures in Singapore fell below $ 40 per metric ton for the first time as concern persists about the slowdown economic in China. Copper, meanwhile, is set to close today below its moving average of 0 months for the first time since 03. BHP Billiton Ltd. fell to a low of seven years in London this morning after Brazil said he would seek as much as 20 billion reais ($ 5.2 billion) in compensation for a collapse of the dam at an iron ore mine which left 13 dead and six missing.
4. oil crisis fallout
Lukoil, the second largest oil producer in Russia recorded a larger drop than expected 62 percent of profits third quarter this morning amid a glut of persistent global supply. oil bulls have the same time against their Atlantic hurricane season ends without a single major event in the Gulf of Mexico to raise prices. West Texas Intermediate for January delivery was 1.29 percent higher at $ 42.24 a barrel on the New York Mercantile Exchange at 11:15 am in London before the OPEC meeting this week, Friday should maintain production at current levels.
5. A big week ahead
There are not that the OPEC meeting that will keep investors busy. It is difficult to overstate the importance of events Thursday and Friday, which will dominate conversations throughout the week. On Thursday, the European Central Bank is due to its monetary policy decision, with high expectations for further easing following the initiation of President Mario Draghi market. Also on Thursday, Fed Chair Janet Yellen will speak to Congress, then on Friday morning, the last work report before the scheduled start of Fed tightening later in the month is due to be published. Meanwhile, there will be a lot of US economic data to come throughout the week.
Bloomberg
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