22nd Nov - W/E: Weekly Support

Here are the links to the weekly roundups, reviews and also previews of the beginning week.

Previously on MoreLiver’s

Friday: Dovish Draghi, Mysterious EZ

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  LAST WEEK

Weekly Scoreboard – Between The Hedges

Tyler’s Weekly Market Wrap – ZH

Stocks Soar Most In 13 Months After Worst European Terrorist Attack In Over A Decade

Succinct summation of week’s events – The Big Picture

5 charts from the week in markets – WSJ

  NEXT WEEK

US Schedule for Week – Bill McBride

Economic Calendar – Berenberg

Mon: EZ PMIs Tue: German IFO, US Q3 GDP Thu: EZ M3 Fri: EZ confidence, UK GDP.

 

UK Next Week – Handelsbanken

Economic Calendar – Handelsbanken

Week Ahead – ZH

5 Things to Watch on the Economic Calendar – WSJ

Wall St Week Ahead – Reuters

Food stocks on the menu for Thanksgiving week

Weighing the Week Ahead – Dash of Insight

There is a lot of data to be reported in only three full trading days, but it does not rate to signal important economic changes. I expect plenty of participants to take the week off and even more will leave after the first hour on Wednesday. The punditry still has pages and air time to fill, despite the lack of fresh news. The punditry will be asking: What are the best year-end investments?

EU Week Ahead – WSJ

Weekly Market Outlook – Moody’s

Week Ahead – Nordea

Next week in the US (where markets are closed on Thursday), GDP growth for Q3 will likely be revised upwards. In the Euro area, we expect only small changes to the November flash PMIs (Mon) and the Ifo index (Tue). In the Nordics, focus will be on new forecasts for Sweden and on Norges Bank's guidance.

Weekly Focus – Danske Bank

Monday European PMI slight rise * Tuesday German IFO slight rise, Norway oil investment survey * Wednesday US PCE inflation.

Strategy:  Global recovery but China deleveraging a drag further out– Danske Bank

Our MacroScope models have turned positive for the first time in more than six months * This is positive for equities, particularly European equities, neutral for euro FI * Previous Fed rate hiking cycles suggest that the USD will weaken after lift-off * CNY to weaken after RMB inclusion into SDR has been settled.

Macro Weekly – Whatever it takes part III – ABN AMRO

Draghi has revamped his ‘whatever it takes language’ to show commitment to getting inflation back up quickly…suggesting ECB will not only act in December, but will also be decisive * Meanwhile, the Fed minutes point to a rate hike next month

G10 FX Weekly: US dollar remains in favour – ABN AMRO

US dollar remains in favour…and net long dollar positioning is far from extreme * The outlook on EUR/USD remains negative because of monetary policy divergence

EM FX Weekly: Fed and dollar leave their marks – ABN AMRO

Weak start emerging market currencies followed by modest recovery * Weaker fundamentals weigh on Indonesia Rupiah * Gradual yuan depreciation expected

Euro rates update – Nordea

FX Outlook – Marc Chandler

Chop City, but Dollar Express Still on Track, Even if Slowly

Weekend notes: Fed, ECB – Marc Chandler

Anticipating December in November: When Cause Follows Effect

Weekly Market Summary – Fat Pitch

The trend is up: equities ended the week about 1% from their highs. Breadth is improving and outperformance from small caps will further bolster participation. Sentiment remains a tailwind, especially for US equities. There's no compelling short term edge, but further upside into yearend remains the most likely outcome. Equities have a tendency to give a good entry on weakness during the next 6 weeks; that would likely provide attractive upside potential into year-end.