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Thursday, May 12

12th May - EU in trouble

Previously on MoreLiver’s:
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Poll: Nearly half of Europeans want own votes on EU, like UK euractiv
Nearly half of voters in eight big European Union countries want to be able to vote on whether to remain members of the bloc, just as Britons will in a referendum next month, according to an opinion poll published on Monday (9 May).

Italy must choose between the euro and its own economic survivalThe Telegraph

Schäuble vs Draghi: German losses from ECB policy are real but self-inflicted Social Europe

EU-Turkey visa deal shot by both sidesPolitico
Commission is ‘optimistic’ that visa deal can go ahead, but MEPs and Turkey are at odds.

Turkey Threatens: "Unless Visas Are Removed, We Will Unleash The Refugees"ZH

Spain and Portugal at risk of EU sanctions over national budgetsPolitico
Both countries’ deficits have repeatedly exceeded the bloc’s limit of 3 percent of GDP.

Bank of England ReviewDanske Bank
BoE repeats it is sidelined until after the referendum

Danske DailyDanske Bank

Euro rates updateNordea

Stocks down, oil price up, busy day for BoE * BoE Super Thursday – unchanged rates and a dovish tone * Spanish 50-year drew large bids pushing ultra-long higher, though yields generally fell * JPY strengthens after two days of weakening

Morning MarketsTF
Poor performance on Wall Street has led to negative sentiment also in Asia where stocks fell on several exchanges in early trading.

Euro wrap-up Daiwa

Daily Market Comment Macro Man
Growth inside and outside the EU: the history of the UK and Sweden

Daily ShotTF
While some of the new longer-dated debt has been pressuring shorter maturities steepening yield curves in several nations Spain issues a 50-year government bond. In oil we look at the shorter term of course.

Daily Press SummaryOpen Europe
Osborne admits Treasury contingency planning for Brexit as Vote Leave cry foul over Cameron-Farage TV debate * EU and Turkey clash over €3bn refugee fund * Merkel’s CDU/CSU Union may campaign separately at next national election * European Commission to recommend sanction procedures against Spain and Portugal

Brussels PlaybookPolitico

Futures Halt Selloff, Levitate Higher On Another USDJPY Spike; Oil Rises


FX UpdateTF
The greenback continues to walk a tightrope as its recent strengthening move has yet to follow through and is keeping the technical picture muddled particularly in USDJPY and EURUSD. Little anticipation today surrounding two central bank meetings: Norges Bank and BoE.

From the FloorTF
Big news in the world of motoring today with Nissan moving in to rescue Mitsubishi from the fallout of its emissions fraud. But elsewhere calm reigns with most dollar pairs stuck in limbo and awaiting a catalyst and crude oil similarly uninspired despite still-raging Canadian wildfires and Nigerian disruptions.

Saako koulutusmenoja leikata? * Iso-Britannia pitää ohjauskoron ennallaan iltapäivän kokouksessaan * Euroalueen teollisuustuotanto supistuu edelliskuusta * EURUSD katkaisi kuuden päivän laskuputkensa