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Monday, November 26

26th Nov - EU Open: Greece ahead

Outrageous predictions for 2013:

Previously on MoreLiver’s:
25-Nov Weekender: Off-Topic, In Finnish 
25-Nov Weekender: World & Markets 
24-Nov Weekender: Weekly Support

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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: DE Gfk Consumer, US Chicago Fed & Dallas FedSaxo Bank
Today's German Gfk index will give some clues about whether Germany is facing a simple dip in growth or a full-blown recession. The US Chicago Fed national activity index will help answer the question, 'Is the US slipping into a new recession?'

Asia Today: Currencies steady with event risks looming this weekSaxo Bank
Friday's positive sentiment stumbled slightly in a steady start to the week in Asia. Both equities and currencies held close to NY closing levels with JPY cross selling evident. A number of event risks loom this week so some caution is understandable

Market Preview: EU finance ministers meeting eyedSaxo Bank
European markets are expected to open lower Monday. Markets are keeping an eye on the EU finance ministers meeting today to discuss the next tranche of aid to Greece. Additionally, investors await German consumer confidence data due later today.

Danske DailyDanske Bank (pdf)
Pro-referendum parties win elections in Catalonia. Bank of Japan minutes show that two new members voted for more dovish wording. EU leaders urge deal on Greece but postpone EU budget deal to 2013. Market mover today: Extraordinary Eurogroup meeting about Greece

AamukatsausNordea (pdf)
Nationalistit voittivat Kataloniassa – itsenäistyminen vielä kaukana * Kreikan seuraavalle tukierälle vihdoinkin vihreä valo? * EURUSD nousi perjantaina vahvasti tason 1.3000 tuntumaan

AamukatsausTapiola (pdf)
Edellisviikko päätyi positiivisissa tunnelmissa, kun Saksan IFO-indeksi kääntyi yllättäen nousuun.
Euroalueen valtionvarainministerit tänään jälleen koolla Kreikan tilanteen ratkaisemiseksi. Osakefutuurit lähellä nollaa, indikoiden flättiä avausta (poliitikkojen päätöksiä odotellaan).


Germany has prescribed austerity and restraint for Europe, while at the same time undertaking extensive fiscal stimulus packages at home – europp / LSE

EU Budget: Commission is nowhere to be seen – Coulisses de Bruxelles / presseurop
EU budget summit exposes weak Franco-German relations – euobserver

Catalan voters back secession parties in Spaineuobserver
Catalans really like this independence idea – alphaville / FT
Catalan election weakens bid for independence from SpainReuters
The obsession with independence – La Vanguardia / presseurop
What will happen the morning after? – El Periódico de Catalunya / presseurop
A dangerous leap into the abyss – El País / presseurop

Euro Ministers Take Third Swing at Clearing Greek Payment – BB
Euro zone, IMF to seek Greece deal, debt write-off main problem – Reuters
Analysis: German hint of Greek debt relief raises euro hopes – Reuters
Euro-ministers and IMF in third attempt to agree on Greeceeuobserver

Mission accomplished, BernankeNordea
I constantly hear the view that the Fed will keep printing until the USD gets weak. Well, mission accomplished, Bernanke. The USD is weak, so why keep firing up those printers?

Some securities purchases but no QE from the Fed yetSober Look

Latest indicators show China avoiding a hard landingSober Look

The RBA will lower rates to blunt the impact of slower mining investmentSober Look

Morning Briefing (EU/US): Oil change revisitedBNY Mellon
Recent developments only bolster the view that oil price dynamics are in a state of flux

Morning Briefing – MondayNordea (pdf)
or read the summary

FX Comment: poker faceNordea

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