and now let's have a look at euro/yen, now at 129.23 to 28, with the euro lower against the yen. investors sold a common currency overnight as major credit rating agencies downgraded italy's credit rating. they also sold the euro following reports that a european central bank policy maker expressed ideas that the bank intends to keep its interest rate low, beyond 12 months. the ecb later clarified that the comments were not meant to give any guidance to the duration of its policy, and the euro managed to recoup some of its losses. so the big focus here today and tomorrow will be the boj meeting, and we'll continue to keep track of any developments there. back to you, ai. >> all right, eileen, thanks for that update. eileen lee from the tokyo stock exchange. >>> well, will soon see another country joining the eurozone. european union finance ministers officially approved the baltic state of latvia to become the 18th nation to adopt the euro, starting next january. the ministers gave the green light to latvia at a meeting in brussels. the latvian government said the conversion rate

euro dollar now at 1.297 to 2975. and checking on euro yen at the bottom of the screen is at 130.65 to 72. the yen and euro appear to be capped ahead of the upcoming european central bank meeting thursday. and now let's see how the stronger dollar is affecting the opening levels for here in japan for wednesday, july 3rd. the nikkei is higher by 0.40% at 14,159 points. nth.r closing above 14,000 and the top ix is higher by 0.09%. investors may continue to buy shares of major exporters today, especially automakers, as u.s. vehicle sales increased more than 9% in june. sales for toyota, honda and nissan increased year on year, so we may see some support for the share prices of these companies today. and we'll continue to keep track of more developments as we go through the trading day here in japan. back to you, ai. >> thanks, elien. eileen lee at the tokyo stock exchange. >>> the bank of japans massive monetary easing has significantly raised the volume of money on the market. but loans to businesses and individuals hav

the dollar gained ground against the euro. the euro dollar is not at 1.32559-3260. it will start to taper the monetary stimulus. we will get direction from the consumer confidence data due later today. the european central bank will hold the meeting on thursday and investors will be watching them. euro yen. a lot of focus on central banks and economic data and earnings reports. we will be keeping track of all that. >> thanks for that update from the tokyo stock exchange. the people at bmw have launched their first fully electric vehicle. they are hoping to rev up a market that has been slow to take off. the german car maker unveiled the i-3 hatch back at events in new york, beijing and london. motorists will be able to drive about 130 to 160 kilometers on a single charge. they will be be able to reach speeds of up to 150 kilometers per hour. japanese suppliers produce the carbon fiber body. it's nearly 300 kilograms lighter than bmw's hatch backs. managers will release the car in europe in november than other markets early next year. the ceo predicted to that sales

euro dollar now at 1.297 to 2975. and checking on euro yen at the bottom of the screen is at 130.65 to 72. the yen and euro appear to be capped ahead of the upcoming european central bank meeting thursday. and now let's see how the stronger dollar is affecting the opening levels for here in japan for wednesday, july 3rd. the nikkei is higher by 0.40% at 14,159 points. after closing above 14,000 points for the first time in nearly a month. and the top ix is higher by 0.09%. investors may continue to buy shares of major exporters today, especially automakers, as u.s. vehicle sales increased more than 9% in june. sales for toyota, honda and nissan increased year on year, so we may see some support for the share prices of these companies today. and we'll continue to keep track of more developments as we go through the trading day here in japan. back to you, ai. >> thanks, elien. eileen lee at the tokyo stock exchange. >>> the bank of japans massive monetary easing has significantly raised the volume of money on the market

let's have a look at the euro dollar trading at 1.309-3100. we saw the dollar fall against the common currency. we see data on jobless claims and investors get more direction for that. moving on to euro yen, trading at 130.20-32, recovering from the upper 127 level on wednesday. the euro strength against the dollar is encouraging them to buy the common currency. just before the market opened, we received positive data on machinery orders for may. it's up 10.5% which is an improvement from the previous figure of minus 8.8%. we will see how it plays into the markets as well. back to you. >> thanks a lot for that. from the tokyo stock exchange. a u.s. federal court has ruled that apple conspired with five publishers to raise prices of electronic books. the district court in new york stated that apple violated antitrust laws. the presiding judge said the it giant created a mechanism and environment that enabled apple and the publishers to work together. the aim was to eliminate all competition for the ebooks. the firm will appeal the ruling. the o

let's take a look at euro/dollar. it's now at 1.3191-3192. market players bought the euro after portuguese government bond yields fell given the positive developments in the country's politics. economic currency rose to the highest level in about a month against the dollar. and last but not least, let's also take a look at euro/yen at the bottom of the screen. it's currently at 131.10-16. so like i mentioned, a pretty negative start at the moment. we'll see how these currency levels affect shares of japanese exporters today. >> sounds good. thanks a lot for that update from the tokyo stock exchange. >>> japanese trade officials are getting ready to join free trade talks for the transpacific partnership framework for the first time on tuesday. the delegates aim to find out what has been discussed and to explain japan's position to 11 other negotiating nations. the 18th round of the tpp talks began last week in malaysia and will continue through thursday. japanese representatives are expected to be allowed to participate in the discussions star

the euro is weaker against other major currencies. they are trading at 129.27-32 compared to around the same time on thursday. investors are failing the common courtesy as they maintained the interest rate low. the president also gets the outlook and the interest rates in the eurozone will remain at or below current record low levels and analysts say this signal that a recovery in the region economy is lagging. having a look at dollar-yen, the dollar is trading at 1 hadn't hadnhadn't -- 100.27-28. as the u.s. markets were closed overnight. we may continue to see limited movements in dollar yen as market place wait for the job report i mentioned earlier and we will come back later at market closing to see how japanese shares finally end the first week of july. back to you. >> thanks a lot for that. the tokyo stock exchange. japanese cosmetics maker admitted to problems in dealing with consumer complaints over skin whitening products it is recalling. company officials say we will make sure the problem never happens again. the company ha

let's move onto currency starting with euro-yen. that's compared to the 130 level at around the same time on wednesday. market player saw the euro due to the situation in portugal and finance minister both resigned. this is casting doubts over portugal's commit 789s, especially after a boring cost jumped above 8%. now, all eyes will be on the meeting later today to get more direction for the common currency. now, let's have a look at dollar yen. it is now 99.83-85 against the yen. currency investors are to remain cautious as a guide for its policymaking. well, that's all for me. back to you. >> all right, all eyes on the jobs report for friday. >>> well, a united nations report says global average temperature rose to an all-time high in the decade 2010. the decade was marked with ak semirating climate change. the report from the world meteorological climate organization was based on data from 129 nationings gathered between 2001 and 2010 >> a sharper rise in tempature suggested global warming is accelerating. these climate changes c

let's have a look at euro-yen. the euro is stronger against the yen at 130.03-08. they are boosted by the eurozone and investors will be closely watching the european meeting on thursday to hear what the president has to say about state of the economy. we may see investors continue to buy shares of japanese exporters today. >> thank you for that update. the bank of japan released the survey yesterday. it shows that many domestic manufacturers did not pass on higher costs to their customers even though businesses paid more for raw materials stemming from a weaker yen. among the respondents, buying costs for raw materials and parts for large manufacturers were at plus 24 points. the the figure for smaller makers stood at plus 35 points. both were up nine points from the previous quarterly survey. a positive reading means a larger percentage of firms mean purchasing costs went up rather than down. the figure for selling prices was at minus four points for large manufacturers and minus 12 points for smaller ones. this is due to intense price competition especially in t

in united states, intercontinental agreed to buy euro next. the japan exchange group has turned a new chapter, but challenges do lie ahead. in derivatives for instance, it's still far behind markets in china and south korea. the group needs to strengthen its competitiveness and its international presence. nhk world, tokyo stock exchange. >>> chinese economy shows further signs of cooling. the latest data suggests that the economy expanded at a slower pace for the second quarter in a row. chinese manufacturers exported fewer goods as the yuan rose against other currencies. gross domestic product was down from a rate of 7.7% in the previous quarter. >>> now for insight on what the numbers mean and what lies ahead, we spoke with a senior fellow and a specialist on the chinese economy. >> i think it's too slow for a chinese economy, because that could damage the stability of the society and second poupt here with just concern about jobless rate could end up going up sharply. so i think that chinese government need to implement some stimulus policy

checking on euro yen at the bottom of the cream is at 129.24-34. it's set to rise against most major currencies. as both central banks are leaning towards loose policies. the bank of japan's governor gets upbeat comments on the japanese economy aftermarket closed on thursday. this may pp investor sentiment hoar. the banking giant and wells fargo later in the u.s. and we will see how that plays into the markets here in japan. >> sorry we couldn't get the numbers up for you, but it is a mixed picture. from the tokyo stock exchange. free trade negotiates on are urchd the transpacific partnership will get a briefing later this month. the country will be the newest member to the trade group. nations engaged in the t approximatpp will be engaged and they will only be allowed to join from the 23rd when it gets all the necessary approval. a special session will be provided so japanese delegates can catch up on current topics. they will send 100 delegates and they they aim to fully understand so japan's position is reflected in the these records are being m

let's have a look at the euro yen now, bottom of the screen, 131.55 to 60. gaining a touch against the dollar as well. but against the yen, that's compared to 131.26 levels, when tokyo stocks closed here yesterday. so the euro is stronger. now, still earnings and data to come out in the u.s. and in japan in particular, cannon kicking things off here is going to release its earnings later today on wednesday. but let's not forget, of course, the transpacific partnership, free trade talks. japan, japanese participation and the negotiations was formally approved on tuesday. a lot of focus on that, and it could affect share prices on japanese sectors such as autos. i'll track some of those, as well. back to you, ai. >> ramin, thanks for that update. ramin mill guard from the tokyo stock exchange. tokyo markets are in the red early this morning. but tokyo is not the only market open. so i'll leave you with a check on some others. >>> members of tokyo's olympic big committee are doing everything they can to win the 2020 summer olympics and paraolympics. they're ask

>> some activity in the dollar/yen and the euro/dollar as well. let's look at some of the pairs. the dollar actually rose a touch following the fed chief's words, currently 99.51-56 and the euro/yen right now at 130.58-68, having fallen a touch against the dollar, but holding relatively steady there against the yen. now, more earnings are going to be coming out from the u.s. with tech giants google and microsoft among some of the bigger names and also from the financial side, we got morgan stanley and that's going to be a big focus of course after bank of america came out and showed strong earnings highlighting a little bit of a turnaround in the banking sector in the u.s.. so it's going to be interesting how related sectors here perform today as well. but both the topix and the nikkei trading in the positive. back to you, ai. >> ramin thanks for that update, ramin mellegard from the tokyo stock exchange. >>> tokyo's not the only market open this hour. i'll leave with you a check on the kospi and some others. >>> protesters have hit the streets of a town in eastern india, demandi

the euro/yen the euro is weaker against the yen compared to this time yesterday when it was at the 132 yen levels. you can see 131.61-64. it has gained against the dollar, its highest since the third week of june due to strong german economic confidence data, so quite a bit of volatility in the currency and stock markets. ai? >> and ramin, regarding earnings, major companies in japan have begun to report. tell us more about that. >> yeah, we're in full swing for earnings reports here, of course, and numbers came out for nissan after the bell yesterday, first of the major automakers to release numbers and the three months to the end of june. nissan showed a net profit gain of 14% on a weaker yen and strong u.s. sales. however, sluggish sales in china and europe led the company executives to maintain its profit forecast. now on friday, you may want to look out later today when markets close, nomura holdings japan's biggest brokerage and next week toyota and honda it's expected they'll show some improvement as well. big focus on automakers and high tech, consumer electronics and heavy ind

british authorities said that nyse euro next will take over libel. the move came after three major financial institutions including barclays were given a huge fine last year for rigging the rate through false reporting. they say that handing over libel's control will tighten rules on the bench mark. also this will allow the calculation of the rate to be based not on reports from banks, but on rates actually used. it's believed that libel transactions worldwide amount to $300 trillion. >>> new faces are around the table at the world trade organization. and already they're facing a trade dispute with their counterparts from the european union. eu delegates have criticized the russians for what's called a recycling fee on imported vehicles. they say the russians are overcharging to protect domestic car makers. they say the maximum fee for new cars is $3,400. for vehicles older than three it has caused imports from the eu to fall by 7% while russia's domestic market expands. >> we actually have such recycling fees here in europe. but the fact is, russia

one is the merger between new york and the euro in 2007. others have initiated since then, but many turned out to be unsuccessful. the u.s., intercontinental exchange agreed to by and the hong kong acquired the lopd an metal exchange. the challenges lie ahead in derivatives trading and it's still far behind marks like china as well as south korea and the group really needs to try very hard to strengthen the competitiveness and the international presence. that will be a big focus. back to you. >> on to other headlines, the world's second largest economy continues to lose steam even as new chinese leaders try to reignite growth. the slow down has fuelled concerns about the future of the country's economy and global leaders are watching to see how the new leadership will engineer a turn around. china's national bureau of statistics reported that gross domestic product expanded 7.5% between april and june. that's down from 7.7% growth in the previous three months. the single digit growth set in after the third quarter of 2010. and for a closer

the euro/yen also having broken above the 132 yen level, 132.34-39, hitting a fresh two-month high boosted by stronger than expected manufacturing data in germany and france. now the focus is on the business german may i say, may i add actually the german business sentiment later today and that may add further direction. following on with earnings, yahoo! japan and nissan will be coming out with earnings after the bell today, so we're in full swing here with earnings as well. back to you, ai. >> keeping you busy ramin. thank you for the update, ramin mellegard, from the tokyo stock exchange. >>> japanese delegates to the transpacific partnership free trade talks are busy catching up on details of the ongoing negotiations in malaysia. the japanese officials joined the negotiations from tuesday. this round of talks has been going on between the 11 other member nations since last week. chief negotiators from the other nations opened a special session on wednesday to help japan catch up. japan's chief negotiator koji tsuruoka and several others were briefed about the status of the talks in sev

euro/yen at the bottom of the screen is at 129.95-99. and we have more earnings reports from companies like japan airlines, toshiba and honda later today and we'll keep track of that. for now, a pretty negative stock for the trading session today. back to you, ai. >> thanks for the update from the tokyo stock exchange. as you know, investors are waiting for two announcements from the u.s., gdp and the federal reserve's decision on monetary policy. now, david stockton is a former director at the fed and senior fellow at the peterson institute of international economics. we asked him for his views. >> first of all, i would like to ask you about the outlook of the gdp coming up. what is your prospect? >> i think we're likely to see a weak second quarter figure, somewhere probably at 1% or below at an annualized rate. and that comes on the heels of 1.5% in the first so the economy in the first half has certainly underperformed its potential. >> reporter: what do we expect from the next monetary meeting coming up on the same day. do you think

taking a look at the euro/yen, $/yen at 100 to .04 to .05. the governor likes what he sees. karodu says the program of pumping money into the system is having a positive impact and will pull the country out of deflation. he spoke at a meeting of the bank's 32 branch managers. he says the economy is picking up. he expects domestic demand to grow as a result of the bank's monetary easing measures and the government's stimulus efforts. the boj chief says the economy is heading for a moderate recovery as countries outside japan also post growth. he says the central bank's bond buying program has let businesses and consumers to expect prices will rise. >>> tourism officials say more and more travelers are visiting japan. more business leaders have started taking notice. they're offering goods and services that meet the needs of muslims. officials at travel organizations that's trying to attract tourists from islamic regions hosted an event at a hotel near tokyo. about 200 people took part. the guest rooms are stocked with some important items for worship. they have prayer rugs on

portugal actually has been almost dormant in this euro mass -- mess. overnight the 10-year bond was about 8%, which is really worrisome. it settled at i believe around 7.4%. as you know, bond players are the ones determining the fate of the country. in terms of the spill effect, i do not see a major one. obviously portugal is a very tiny country. it needs, i would say, $5 billion to $10 billion of additional aid to help us economy. whenever things like that happen, whenever the yield on a 10-year jumped like that, there is definitely nervousness in the the spillover effect is there. >> i spoke to a gentleman in the last hour in lisbon who said, i would like to get an answer on how you grow an economy and make things better when people are out on the reeds and do not have jobs, do not have food. there is a level of anger there that is help will -- palpable. he does have a point, doesn't he? >> he does. similar to the united dates, unfortunately politicians and even private sector is relying on a few people in the central bank to determine the fate of th