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Monday, February 25

25th Feb - US Close: Italian Job

Note that all coverage of the Italian elections is in the Special post. What a day: JPY move astounding, EURUSD within normal bearish daily range (the move only looks huge if you include the intra-day rally ahead of the first election results), stock markets sold off. So, EURUSD is down a lot, and dropped below key support areas. Technically difficult environment: the longer-term bull trend looks like it has ended, but are we in a bear trend now, or just range-trading for a while? I'm looking forward to Bernanke's talk tomorrow at 15:00 GMT and on Wednesday as well - he has even more reason now to sound a bit dovish. But... if they start to grill him on the effectiveness of the QE programs, and his answers seem weak, the fears that the QE is about to end might flame up again. I'll be watching the charts..

Previously on MoreLiver’s:
Weekly Support (weekly market reviews and previews)

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

Tomorrow’s Tape: Bernanke on the Hill – WSJ
Morning Briefing (Asia): Global Markets Plunge on Italian Election Results – BNY Mellon
  Thoughts on Moody’s downgrade of UK sovereign debt
Europe: Europe Ends Unch As "Italian Hope" Gains Evaporate – ZH
US: Market Plunges As European Crisis Is Back– ZH

Unemployment now the main problem in eurozoneeuobserver

A Tale of Two AdjustmentsKrugman / NYT

The sequester stops being polite and starts getting specificWonkblog / WP

BOJ Pick Will Need Powers of PersuasionWSJ
Haruhiko Kuroda's first job as Bank of Japan governor may be to convince people he is a little crazy.

This Is What A Disorderly FXit Looks LikeZH

Humun raportti kallis kuplaApu
Puhallus. Huippu-urheilun muutostyöryhmän eli Humun hintava loppuraportti on osoittautunut asiantuntijoiden mukaan nollatutkimuksen arvoiseksi.

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