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Saturday, August 29

28th Aug - EURUSD hit lows as US yield rose

Previously on MoreLiver’s:

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Eurozone inflation: Why Draghi has his work cut out TF
Markets begin to settle as China prepares for "end of war" celebrations * ECB economic forecasts due on Thursday will be fillip for Draghi * EUR exchange rate fall will be putting pressure on Eurozone inflation target

Euro-Area Confidence Unexpectedly Rises Amid Slowdown Risks – BB
Euro zone sentiment edges to new four-year high in August – Reuters
GDP data reveal surprising lift in UK trade figures – FT
UK: Sustainable broad based growth confirmed – Nordea

Strong US growth in Q2 poses rate conundrum for Fed – FT
Some Fed thoughts: QE4 and all that – FT
The Right And Wrong Arguments For September – Tim Duy
China jitters, globalization bode ill for Fed's inflation goal – Reuters
For how long can the Fed calm anxious markets? – TF

China’s ongoing FX trilemma and its possible consequencesFT 
From UBS’s Tao Wang on what, post China’s surprise revaluation, is now an oft used phrase, the impossible trinity
On the centrality of the current account in international economicsBIS
The current account occupies a central position in international economics and policy debates. Indeed, in G20 policy debates the term "global imbalances" is treated as almost synonymous with "current account imbalances".

Morning MoneyBeat AsiaWSJ
U.S. Stocks Rally for Second Session, Oil Surges

Morning MoneyBeat EuropeWSJ
Stocks Stabilize After Turbulent Week

Morning MoneyBeat USWSJ
After a Wild Week for Stocks, Key Data on Deck

Danske DailyDanske Bank

Euro rates updateNordea

Upbeat US GDP: US economic recovery is on track * Asian equities rally * Core bond prices under pressure * Jump in oil price drive NOK stronger

Morning MarketsTF
An astounding revision of second-quarter GDP in the US from 2.3% to 3.7% has sparked the dollar into action but fragile sentiment suggests that we are not yet in real risk-on territory, notwithstanding those global equities rises.

Daily FX CommentMarc Chandler
Consolidative, Month-End Session with Headline Risk from Jackson Hole

Daily ShotTF
Amid turmoils in China the US reported an astonishing rise in GDP. In the meanwhile we see the unemployment rate in Japan continue to fall as better economic growth combined with the aging population has created a tight labor market. Especially women profit.

Daily Press SummaryOpen Europe
New polls show wavering support for SYRIZA ahead of new elections * ECB member warns on current Eurozone approach and calls for deeper integration and Treaty change * Discovery of truck with dead refugees increases pressure on EU leaders to deal with migration crisis * UK Immigration Minister: Current flows of people across Europe are not sustainable * Moscovici: “I had to interpose myself” to avoid Varoufakis and Dijsselbloem fist fight * Latvia and Greece secure opt-out from GM crop cultivation * Google could land hefty fine after rejecting Commission’s antitrust charges * Ukraine secures debt restructuring

Brussels PlaybookPolitico
À la rentrée — Another migration tragedy — New EU task force on Russia propaganda

China Surge Continues, Futures Slide As Jittery Market Looks For Jackson Hole Valium


FX UpdateTF
The JPY appears to be the risk sentiment instrument of choice, ignoring solid data out of Japan overnight and the BoJ’s recent less dovish rhetoric and weakening as risk continued to bounce late yesterday and overnight. Elsewhere, the USD is mixed and we’re all waiting central bank signals today and over the weekend.

From the FloorTF
Friday morning in Europe finds markets in buoyant mood after a raft of unexpectedly strong US data – including an upwardly revised GDP estimate – late yesterday set off a chain reaction of rebounds in financial markets worldwide.

Kiina siirtää Yhdysvaltojen koronnostoa * USA:n BKT-kasvua korjattiin ylöspäin odotettua enemmän * Brent-öljyn hinta nousi reiluun 47 dollariin * Korot nousivat hyvän datan ja öljynhinnan vetäminä

Raha ja Talous: Palkanalennus rahataloudessaImage