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Thursday, January 10

10th Jan - US Close: ECB Post-mortem & Papertrading results

Showing every transaction
I'll post a bit earlier and update the missing links later.


Papertrading


22nd Oct 2012 – 9th Jan 2013
57 market days
354 trades (=708 transactions), mostly EURUSD and USDJPY



Daily performance



Previously on MoreLiver’s:                  

Roundups and Commentary
Markets – Between The Hedges
The Closer – alphaville / FT

Tomorrow’s Tape: Wells Fargo Earnings, Trade Deficit – WSJ
US: Forget 'Rotation'; 2013 Is The Great 'Risk' Recoupling So Far – ZH

Reference
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

EUROPE
Dijsselbloem to replace Juncker as Eurogroup chiefeuobserver
Outgoing Eurogroup chair Jean-Claude Juncker has hinted that his replacement will be Dutch finance minister Jeroen Dijsselbloem.

Germany wants EU budget summit in Februaryeuobserver
Germany wants a second attempt to reach an EU budget deal on 7-8 February, but EU Council chief Van Rompuy is unsure.

  PIIGS
Beginner’s guide to Italy’s general election 2013The World / FT

Ireland looks to 'successful' exit from bailout programmeeuobserver

  ECB MEETING
Introductory statement to the press conferenceECB

Draghi Hails ‘Positive Contagion’ as Euro Markets StabilizeBB
Draghi said the euro-area economy will slowly return to health in 2013 as the region’s bond markets stabilize after three years of turmoil.

ECB's sees recovery in late 2013Reuters
The euro zone will recover later in 2013 and there are already signs of stabilisation, the ECB said after it held interest rates at a record low.

Recap: ECB MeetingThe Euro Crisis / WSJ

Draghi Does Not Hint at Change in ECB PolicyMarc to Market

Draghi keeps the door wide open for more easing, but it will require more weaknessNordea

Mario's waiting gameFree exchange / The Economist
Existential worries about the euro area may have gone away for the time being, removing the darkest cloud of all. But there are good reasons for doubting whether things will turn out as well as Mr Draghi thinks.

ECB meeting - no more rate cutsDanske Bank (pdf)
Overall, we are slightly more optimistic on the growth outlook than the ECB staff projection and we believe it is likely that the rate discussion will fade as the euro area returns to positive growth in H1.

Eurozone on its way back to growth, Draghi sayseuobserver
ECB chief Mario Draghi has spoken of "positive contagion" in the eurozone - a rare moment of optimism since the crisis started four years ago.

ECB Afterthoughts: DullTradingFloor
ECB left rates unchanged, signaled no immediate rate cut or introduction of new unconventional measures, and as everyone else prints and targets thresholds, the euro strengthened.

UNITED STATES
The Debt Limit: Not a Credible Way to Control SpendingEconoMonitor
The debt limit is expected to become binding (i.e., extraordinary measures will become exhausted) between February 15 and March 1. The limit needs to be raised by $1.1 trillion to get through 2013 and by $2.1 trillion by the end of 2014

Q#2 for 2013: Will the U.S. economy grow in 2013?Calculated Risk
Right now it appears the drag from austerity will probably offset the pickup in the private sector - and we can expect another year of sluggish growth in 2013 probably in the 2% range again.

OTHER
EMEA WeeklyDanske Bank (pdf)

Currency Bores - What Policymakers Really Mean When They Talk About FXZH
Steven Englander of Citi: It is hard to find a policymaker who hasn’t actively tried to talk his currency down.

Global Alpha WeeklyNordea (pdf)
Monetary policy: Rather late than sorry * Bank of Japan – Hawks need not apply

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