Here are the links to
the weekly roundups, reviews and also previews of the beginning week. Last
week's 'Support' here. US Payrolls and ISM manufacturing, the ECB’s meeting are the main events,
but not much is expected market-wise from these. Dull holidays?
Previously on MoreLiver’s:
FRIDAY CLOSE
News – Between
The Hedges
Markets – Between
The Hedges
LAST WEEK
Weekly Scoreboard – Between
The Hedges
US market portrait –
Portfolio Probe
Europe: Weak Close Leaves European Stocks Red
Year-To-Date – ZH
US: Stocks Plunge In
Last Minute, June Is Worst Month Since October 2012 – ZH
The Economist’s Weeklies:
The Weekender – alphaville
/ FT
The Weekender – beyondbrics
/ FT
Succinct summation of week’s events – The
Big Picture
The Week That Was – ZH
Week in Review: Corzine’s Legal Battle May
Last Years – DealBook
/ NYT
Suit accuses Jon Corzine of a failure at the helm. | Cost of public projects is rising, and pain will be felt for years. | Bank gains by putting the brakes on traders. | Exit from the bond market is turning into a stampede. | Andrew Ross Sorkin says that economists are asking: Did Ben Bernanke tip the Fed’s hand? | Mass layoffs at a top-flight law firm. | Deals in the works involving two luxury retailers.
Suit accuses Jon Corzine of a failure at the helm. | Cost of public projects is rising, and pain will be felt for years. | Bank gains by putting the brakes on traders. | Exit from the bond market is turning into a stampede. | Andrew Ross Sorkin says that economists are asking: Did Ben Bernanke tip the Fed’s hand? | Mass layoffs at a top-flight law firm. | Deals in the works involving two luxury retailers.
(audio) MoneyBeat Week Who’s Misreading Whom? –
WSJ
Did the markets
misread the Fed or did the Fed misread the markets?
NEXT WEEK
Schedule for Week –
Calculated Risk
The key report this week is the June employment report on
Friday. Other key reports include the ISM manufacturing index on Monday, auto
sales on Tuesday, the Trade Balance report on Wednesday, and the ISM service
index also on Wednesday.
Economic Calendar – Berenberg
(pdf)
US labour market: hawks back on the offensive on strong non-farm payrolls?
Bank of England: no action at Carney’s premiere. ECB: no action, Draghi dovish. PMIs: China weak, US moderate, Europe rebounding
Economic Calendar – Handelsbanken
(pdf)
S&P 500 Earnings Week Ahead – Reuters
Wall Street Week Ahead – Reuters
Panic selling on fears
of an early exit of the U.S. Federal Reserve's stimulus efforts may be over,
but the stock market may still face wild intraday swings as investors scramble
to position themselves for Friday's payrolls report.
Central Banks, Carney,
Croatia
Snowden chill for China-US at Asia meeting?
(video) US Week Ahead – Reuters
No fireworks seen in
June jobs report
Week Ahead – Nordea
(pdf)
US: With Fed policy moves completely data-dependent, the employment
reports released next week will obviously be very important for markets. We
expect payrolls to increase by 150k and the unemployment rate to slip to 7.5%
after printing at 7.6% in May. Euro Area: On Thursday, ECB will announce its
decision on rates followed by Draghi’s press conference. During the last ECB
meeting in early June, Draghi reiterated that the bank is monitoring incoming
data very closely and stand’s ready to act. Following the June announcement,
data has been improving somewhat, which should make the bank stay on hold.
Weekly Focus: Time to
calm down – Danske
Bank (pdf)
Draghi is unlikely to
open up for further easing in connection with the ECB meeting but he will
probably attempt some verbal intervention by underscoring that monetary policy
will stay accommodative in the distant future. In the US we expect a decent 180K gain in non-farm
payrolls and a rebound in ISM manufacturing, suggesting that the soft patch has
indeed been soft and is now possibly coming to an end. In China we expect a gradual decline in money market
rates and possibly a more proactive PBoC to contribute to stabilisation in
financial markets but economic data is expected to remain weak.
Strategy: Capitulation paves way for
consolidation in risk assets –
Danske
Bank (pdf)
We have seen lots of
capitulation recently in financial markets leading to decline in risk assets
and higher bond yields.
Weighing the Week
Ahead – A Dash of Insight
What do higher interest rates mean for stocks?
Weekend Sentiment
Summary (June Week 4) – Short
Side of the Long
FX Positioning and
Technical Outlook: Dollar Finishes Q2 on Firm Footing – Marc to Market
Weekly Credit Update – Danske
Bank (pdf)
Improved mood in the
credit market but primary market activity is subdued. EU Council agrees on
principles for bank resolution. S&P may change its corporate rating
methodology.
Commodities Monthly: Downside
risks as Perfect Storm is gathering – Danske
Bank (pdf)
Metals have proved
especially vulnerable to accelerating China fears.
EMEA Weekly – Danske
Bank (pdf)
The EMEA markets have
come under pressure in recent months. Local factors such as political unrest in
Turkey and weak Polish macroeconomic data undoubtedly
have had an negative impact on the sentiment in the EMEA markets.
Emerging: Week Ahead –
beyondbrics / FT
EU Week Ahead: July
1-5 –
WSJ
In a week in which
there are likely to be further reverberations over reports that the U.S. spied on EU institutions, much of the action
takes place out of Brussels. It starts with the celebrations to mark Croatia’s accession, through
some important parliamentary sessions in Strasbourg, Chancellor Angela Merkel‘s
pre-election jobs summit in Berlin and the EU commissioners trip to Vilnius to
mark the start of Lithuania’s presidency.
Agenda: US bugging
allegations in spotlight – euobserver
Fallout from allegations that US security services bugged EU officials
and buildings is expected to be uppermost in lawmakers' minds this week.
CALENDARS
Economic Calendar – investing.com
Economic Calendar – fxstreet.com
Monthly Economic
Calendar – fxstreet.com
Economic Calendar – BB
EU calendar – europa.eu
Markkinakalenteri – Nordnet