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EUROPE
Great Graphic: Unit Labor Costs in EMU – Marc
Chandler
UNITED STATES
Here's
How Much the Strong Dollar Hurts American Companies – BB
USD
strength caused a third of the recent decline in U.S. companies' foreign subsidiary
profits
FEDERAL RESERVE STATEMENT
Monetary
policy statement – WSJ
Fed statement
tracker – WSJ
Parsing the
Fed: How the July Statement Changed from June – WSJ
First
impulse was a slightly dovish read – TF
FOMC Closer
to September Hike, Even If the Market Doesn’t Think So – WSJ
Only ‘some’
further progress needed for September rate hike – Danske
Bank
Fed Hike
Moving into Focus – Marc
Chandler
Hilsenrath
Confirms Inflation Concerns May Delay "Liftoff" – ZH
Goldman
Says Don'tt Read Too Much Into Fed Statement – ZH
Fed more
upbeat on economy, unclear on timing of rate hike – WaPo
FOMC Recap –
Tim Duy
Fed says
economy improving; September rate hike in view – Reuters
Fed Says
Labor Market Improves as It Moves Toward Rate Rise – BB
REGULARS
Daily
Central Banks – WSJ
Hilsenrath’s
Take: A Split Decision Looms from Fed on Job and Inflation Goals * Janet
Yellen’s First 18 Months Running the Fed—By the Numbers * Regulators Give First
Feedback on ‘Living Wills’ * Wanted in China: A Reassuring Face for Investors *
BOJ Expects New Inflation Measure to Rise
Morning
MoneyBeat Asia – WSJ
U.S. Stocks
Recoup Monday Losses, and Then Some
Morning
MoneyBeat Europe – WSJ
Equities
Stable Ahead of Fed
Morning
MoneyBeat US – WSJ
Valuations
Take Back Seat to Market Breadth Worries
Danske
Daily – Danske
Bank
Euro
rates update – Nordea
Eye-Opener – Nordea
Big drop in
US consumer confidence *^The first Fed hike is
not fully priced in until January 2016 * USD to gain on FOMC unless risk
sentiment deteriorates markedly
Morning
Markets – TF
Amid the
"distractions" of sinking commodities, Greece's petulant toying with
the Eurozone exit door and the alarming clatter of a Chinese slowdown/equity
crash, the day we've all been waiting for has finally arrived – FOMC meeting.
Daily FX
Comment – Marc
Chandler
Markets are
Hopeful for Fed Clues
Daily
Shot – TF
The US
remains one the world's stronger economies as well as one of the few nations
where macro trends show a determined upward trajectory. Ahead of today's FOMC
meeting, however, there are a few signals that not everything is coming up
roses in America.
Daily
Press Summary – Open
Europe
Osborne: We
should think of EU as a “single market of free trade” * Varoufakis could face
criminal prosecution over alleged hacking of Greek online tax system * House of
Lords EU Committee warns renegotiation needs to be clearer and more transparent
* Senior Polish MEP: Eurozone integration will leave Poland at a disadvantage *
MEPs approve plan to track and store details of air travellers in and out of
the EU * Calais crisis escalates as 1,500 attempts made to storm Eurotunnel
Brussels
Playbook – Politico
NATO backs
Turkey — The Quadriga? — EU’s Ghost Parliament
US Open – ZH
Violent
Government Buying Spree
Sends Chinese Stocks Soaring At Close Of Trading; Yellen On Deck
Frontrunning – ZH
FX
Update – TF
We’re
slightly biased for a hawkish FOMC tonight, as the market hasn’t really
responded to Yellen’s previous, relatively hawkish guidance, and the language
change for the statement may shift rhetoric to allow for a possible September
move.
From the
Floor – TF
The dollar
is holding fire and in consolidating mode ahead of today's Federal Open Market
Committee meeting.
FINNISH
Aamukatsaus – Nordea
Suomen asuntojen hinnat: Ensivaikutelma pettää | Tänään on
luvassa Fedin kokous | Britannian BKT kasvoi vuoden toisella neljänneksellä 0,7
prosenttia
Suomen investointilama ja orastava suurtyöttömyys – Raha
ja Talous / Image
Jos Suomessa halutaan puuttua työttömyyteen, on investointi-
ja kysyntälama pystyttävä päättämään.
Entä Väyräsen malli? – Roger Wessman
On mahdollista, että euroero on pitkällä tähtäimellä parempi
ratkaisu. Arvioni on kuitenkin, että euron hajottamisen välittömät kustannukset
ovat niin suuria ja sen tuomat hyödyt niin kaukaisia ja epävarmoja, että en
uskalla sitä suositella, vaan pikemmin pyrkisin tekemään eurosta mahdollisimman
toimivan.