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Sunday, May 24

24th May - W/E: Weekly Support

Here are the links to the weekly roundups, reviews and also previews of the beginning week. Last week's 'Support' here. This post will be updated as new material is published.

Previously on MoreLiver’s:

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Weekly ScoreboardBetween The Hedges

Friday’s Price MonitorGlobal Macro Monitor

Tyler’s Weekly Market WrapZH
Sudden Selling Panic Sends Stocks Reeling On Dollar's Best Week Since Lehman

Succinct summation of week’s events – The Big Picture

US Schedule for WeekBill McBride

Economic CalendarBerenberg

Economic CalendarHandelsbanken

UK Next Week’s AgendaHandelsbanken

World Week Ahead – WSJ

Global Central Banks Calendar – WSJ

Week Ahead – ZH

5 Things to Watch on the Economic CalendarWSJ

Wall St Week Ahead – Reuters

Global Economy Week Ahead – Reuters

Weighing the Week Ahead – A Dash of Insight

Global Week Ahead – BB

Europe’s Week Ahead: – WSJ

Weekly Market OutlookMoody’s

Weekly FocusDanske Bank
US Q1 GDP to be revised lower * EZ monetary data and two ECB speeches * UK parliament opening * Japan April CPI

StrategyDanske Bank
The euro area recovery is taking a breather as boost from oil fades * US recovery is imminent * Tentative signs of bottoming in China * Moderate gains in stocks in coming months * Bond yields heading higher as Fed hike draws closer * EUR/USD to go lower

Macro Weekly – Will the global economy gain momentum?ABN AMRO
2015 is shaping up to be another year of more negative global growth surprises than positive ones. Financial market participants and policymakers have to ask how bad it really is. I would suggest to be patient. Global growth is perhaps not great, it is not a disaster either. And we continue to believe that growth will pick up. The picture that is likely to emerge in the course of the year is actually a relatively benign one with improving growth, modest inflation and central banks determined not to rock the boat.

Week AheadNordea
Next week is likely to rule out an end-May solution between Greece and its creditors as plenty of points of disagreement remain. The US offers second tier data, likely including a contraction in Q1 GDP. In the UK on the other hand, we expect to see an upward revision of Q1 GDP. In the Nordics, Sweden and Denmark present first estimates of Q1 GDP and in Norway labour market data is released.

Weekly Market SummaryThe Fat Pitch
The S&P index is making new highs. The trend is higher. But in the process, the trading range has become very tight. In the past, this has been followed by higher volatility and limited near term upside for equities.

Euro rates updateNordea

Euro Rates WeeklyABN AMRO
The ECB announced it will frontload and possibly backload purchases to counteract seasonal patterns * This marks a shift as the ECB is now willing to adjust the pace of its purchases to market conditions * The tweaks will lead to inter temporal shifts and possibly lower volatility in the Summer…but overall scarcity dynamics will remain unchanged * The changes will result in even more negative net adjusted flow in June and September * We expect NCBs to focus their frontloading on the short end of the curve, which could bias 2s10s to steepen

Fixed Income ConvictionsABN AMRO
Covered bonds lost relative value versus government bonds…following recent sell-off in the sovereign market * This is reminiscent to what happened after the ECB announced CBPP3 * But also unsustainable in our view * ECB will stick to its QE plan (and target) which should support government bonds * Resulting in an outperformance versus covered bonds * Therefore, we now favour long-dated (semi) core government bonds over covered bonds and agencies

FX OutlookMarc Chandler
Dollar Bulls Retake the Whip Hand

FX 4 Next Week: How to play the fading poundTF
GBP's move looks overextended and in a relatively quiet data week this could favour consolidation. Elsewhere, Greece has repercussions for USDCHF call options; there is potential for EURJPY and AUD downside; and could USDJPY finally make a move higher after months on the sidelines?

ECB’s Coeure comments weigh on the euro * US dollar profits from improvement in investor sentiment and weakness elsewhere * We expect EUR/USD to drop below parity between the third and the fourth quarter of this year

Stronger dollar weighed on EM currencies * Weak Polish data hurt on zloty, while Turkish lira strengthens due to ongoing ‘stealth’ tightening * Some adjustment in Asian FX forecasts

Economic Calendar –
Economic Calendar – BB
EU calendar –

Global Central Banks Calendar – WSJ
Central Bank Release Calendar – Daily FX