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Saturday, February 23

23rd Feb - Weekender: Weekly Support

The last week reviewed – and the next previewed! Previous Weekly Support here.

What a week: Fed minutes reveal end to QE is perhaps closer than we were led to believe. European Commission presented its terrible macroeconomic forecasts. UK gets downgraded and markets seem nervous. Next stop will be the Italian election. 

Previously on MoreLiver’s:

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Markets – Between The Hedges
Europe: EURUSD Slumps To Worst 3-Week Run In 7 Months – ZH
US: S&P Has First Weekly Loss Of Year As Dow Regains 14,000 – ZH

Weekly Scoreboard – Between The Hedges
Weekly Eurozone Watch – Global Macro Monitor
Week in Review – Global Macro Monitor
U.S. Equity Sector ETF Weekly Performance – Global Macro Monitor
US market portrait – Portfolio Probe

Daily Recaps by Global Macro Trading and Kiron Sarkar
Friday            GMT,  KS
Thursday                   KS
Wednesday    GMT 
Tuesday         GMT,  KS
Monday                     KS

Summary for WeekCalculated Risk
Ending week’s US economic data, with charts.

The Weekenderbeyondbrics / FT

Succinct summation of week’s eventsThe Big Picture

Weekly Bull/Bear RecapRational Capitalist Speculator

(podcast) MarketBeat WeekMarketBeat / WSJ
The Fed minutes and what they mean for the Dow in its relentless push toward record highs.

Week in Review: Sweeping Changes or a Symbolic Reprimand?DealBook / NYT
Prosecutors, shifting strategy, are building a new model for Wall Street cases * Morgan Stanley is striving to coordinate two departments often at odds * Andrew Ross Sorkin says Steven L. Rattner's reputation, once sullied, has acquired a new shine

Politics this weekThe Economist

Business this weekThe Economist

Schedule for Week Calculated Risk
This will be a very busy week for economic data. The key reports are the January New Home sales report on Tuesday, the January Personal Income and Outlays report on Friday, and the second estimate of Q4 GDP on Thursday… Fed Chairman Ben Bernanke will deliver the Semiannual Monetary Policy Report to the Senate on Tuesday, and to the House on Wednesday.

Economic CalendarHandelsbanken (pdf)

Next Week’s Tape: A River of Data, and Bernanke to BootMarketBeat / WSJ
A revised fourth-quarter GDP report, as well as retailer earnings, and an Italian election.

S&P 500 Earnings Week AheadReuters

Wall Street Week Ahead Reuters
U.S. investors face another Washington-imposed deadline on government spending cuts next week, but it's not generating the same level of fear as two months ago when the "fiscal cliff" loomed large.

(video) Europe Week Ahead: Italian election aftermath to dominateReuters

(video) Asia Week Ahead: Battles of the corporate titansReuters

(video) US Week Ahead: Battle over budget cuts, Apple meetingReuters

Weekly Preview: Getting politicalBNY Mellon

Weekly Focus: Gap between France and Germany at record highDanske Bank (pdf)
The first exit polls from the Italian general election on Monday afternoon will be scrutinised to see whether Bersani and Monti are able to form a centre-left coalition. Ben Bernanke is due to deliver his semi-annual testimony before the Congress and we hope his speech will spread light on his thinking about asset purchases. The Japanese government is expected to announce its candidate to take over the job as governor of the Bank of Japan.

The Week AheadHandelsbanken (pdf)

US: GDP growth in Q4 probably landed in positive territory in the second estimate. In January, core PCE prices likely increased more than in recent months. In February, ISM manufacturing possibly weakened slightly. Sweden: Forecast sales in-crease at the start of 2013; ex-pecting a slower recovery in February PMI; huge drop in Q4 forecast GDP - a repeat of 2011. Norway: LFS unemployment rate likely fell in Dec., modest growth in retail sales expected in Jan. EMU: Inflation expected to re-main at 2.0 percent y-o-y in Feb. China: PMI

Weighing the Week Ahead – A Dash of Insight

FX Positioning and Technical OutlookMarc to Market
Given the sizable moves in the foreign exchange market, we thought it might be useful to look at the long-term technical picture of the major currencies.

Weekly Credit UpdateDanske Bank (pdf)

EMEA WeeklyDanske Bank (pdf)

Commodities: Perfect storm spurs broad-based sell-offDanske Bank (pdf)

Emerging Markets Calendar – Handelsbanken

Emerging: Week Aheadbeyondbrics / FT

Agenda: Eastern Europeeuobserver

Economic Calendar – Forexpros
Economic Calendar –
Monthly Economic Calendar –
Economic Calendar – BB
EU calendar –


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