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Thursday, November 1

1st Nov - EU Open

Previously on MoreLiver’s:

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News roundup – Between The Hedges
The 6am Cut London – alphaville / FT
Emerging Markets Headlines – beyondbrics / FT

Debt crisis: live – The Telegraph
The Euro Crisis Blog – WSJ
Tracking Europe’s Debt Crisis – NYT
FX Options Analytics – Saxo Bank
European 10yr Yields and Spreads – MTS indices
Economic Calendar – Forexpros

3 Numbers to Watch: UK, US Manufacturing PMI; US ADP JobsSaxo Bank
Purchasing managers in the UK are expected to report a deeper contraction in manufacturing output in October, while the same managers in the US are likely to offer a positive assessment. However, employment growth in the US may moderate.

Asia Today: China’s PMIs improve but not enough to celebrate Saxo Bank
The new month saw Asia’s eyes fixed on the flow of manufacturing PMI data from across the region. China data was as, or slightly better than expected, rising to 50.2 but had little bearing on risk appetite/currency direction during the session.

Market Preview: US macro releases eyedSaxo Bank
European markets are expected to open mostly higher Thursday. Markets are keeping an eye on US economic and corporate releases due later today. Meanwhile, data already released today indicated that Chinese manufacturing activity improved in October.

Danske DailyDanske Bank (pdf)
Key news: US stock markets ended flat on the first day of trading after hurricane Sandy * Obama and Romney are still neck-and-neck in opinion polls * Chinese PMI rose in October – this has lifted Asian stock markets this morning * The yen continues to weaken. Market movers today: Focus on European PMIs and US * ISM – today’s Chinese PMI data give some reason for optimism. 

AamukatsausNordea (pdf)
Kiinan teollisuudessa piristyminen? * Neuvottelut Kreikan kanssa jatkuvat – velkauran kestävyys huolenaihe * USA:n pitkät korot laskuun markkinoiden auettua Sandy-myrskyn jäljiltä

AamukatsausTapiola (pdf)
Markkinan suunta:  Osakemarkkinat avasivat tasaisesti USA:n pörssin avauduttua kahden päivän tauon jälkeen. Markkinoiden näkemys Kiinan talouden hidastumisen pohjaamisesta sai tukea aamun ostopäällikköindekseistä. Osakefutuurit nyt miinuksella, indikoiden laskuavausta. Cramon kautta paremmin ja edullisemmin kiinni Cramon ja Ramirentin Venäjän JV:een. 3Q12-tuloksia aamulla: Hyvät tulokset: Atria, Fiskars, PKC Group. Heikot tulokset: Lemminkäinen. 

Morning Briefing (EU/US): "It's the end of the world as we know it and I feel fine"BNY Mellon 
Evidence is slowly mounting of a shift in thinking in China.


Deciphering The Dismal Reality In Europe From The Hopeful Green ShootsZH
Morgan Stanley: In our view, incoming data and anecdotal evidence would suggest that 4Q could be even worse than we had expected so far, and that the outright contraction in headline GDP could also drag into the early part of next year.

Goldman’s Scary Halloween SurpriseSober Look
The Goldman Sachs Analyst Index (GSAI) hit a new post-recession low this month. The index is a composite of corporate outlook by industry from Goldman's company research.

  China: PMI
China’s recovery: alphabet soup – beyondbrics / FT
Will China fall flat on its face just like Japan? – BBC
Manufacturing PMIs confirm moderate recovery – Danske Bank (pdf)
China: October PMIs highlights the economy is at bottom – Nordea
China official manufacturing PMI points to a return to expansion – ASA
HSBC/Markit China manufacturing PMI points to 12 consecutive months of contraction – ASA

China PMIs are stumbling upwards with mixed conviction – alphaville / FT
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