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Saturday, May 14

14th May - Weekly Support

Here are the links to the weekly roundups, reviews and also previews of the beginning week. Last week’s post is here.

Previously on MoreLiver’s:

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Weekly ScoreboardBetween The Hedges

Succinct summation of week’s eventsThe Big Picture

Weekly Market Review – ZH

Bloomberg Best of the WeekBB

US Schedule for WeekBill McBride

Economic Calendar – Berenberg

5 Things to Watch on the US Economic Calendar WSJ

Week AheadBB
Fed, Trump-Kelly, Hedge Funds. U.S. housing, consumer prices; Japan seen returning to growth. Cisco, Wal-Mart earnings; ‘Championship Sunday;’ Preakness

EU Week AheadWSJ
NATO, G-7, Greece, Migration and Weedkiller

Wall St Week AheadReuters
S&P seen failing in reach for year-old record

Weighing the Week Ahead Jeff Miller
Is it Springtime for housing?

EcoWeekBNP Paribas
EZ: Strong start to the year for the German economy, and Eurozone GDP is up 0.5% q/q. But a slowdown is expected in the spring. US: The labour market has been losing momentum. It could be additional evidence of the soft patch the US economy went through in early 2016. It could also signal further slowdown on the horizon. ECB: Conventional monetary policy can be, and often is gradual. Unconventional policy cannot afford that luxury. Four reasons are behind the necessity of acting as fast and boldly as possible once unconventional policies have been initiated. Spain: The job market is still fragmented, split between permanent jobs on the one hand and temporary jobs on the other.

Week Ahead: Fed to remain hesitant Nordea
Next week’s main event is the release of FOMC minutes. Data from the US will be rich next week with the April CPI report and manufacturing output data. In the Euro area, ECB meeting minutes and CPI prints are due. Also next week, we get the UK March employment report and CPI data and preliminary Q1 GDP data from Japan.

Weekly FocusDanske Bank
Tue US CPI core +2.1% * Wed FOMC minutes likely divided, June hike closed

StrategyDanske Bank
The market has become overly pessimistic on US growth in our view * The USD has bottomed and will strengthen near term, particularly versus European currencies * The window for higher euro yields has closed on Brexit risks and flows * Brexit risks, a stronger USD and falling China credit growth suggest that the risk rally will fade near term.

Week AheadHandelsbanken

Global Views Weekly Scotiabank

Weekly FX Sentiment Report Scotiabank

Weekly Market OutlookMoody’s
[free registration required]

Macro Weekly - ABN AMRO
The global business cycle: for better or worse? Commodity prices and cyclical assets have recovered since late February, but what does that signal? Is this the result of the earlier decline having gone too far or does it signal an improvement in global cyclical conditions? The evidence is mixed, but we think it weighs in favour of an improving outlook.

Brazilian real likely to weaken somewhat… as focus turns back to reality. The Polish zloty has been the weakest CEE currency… because of political and downgrade risks… while we expect the Hungarian forint to shine.

USD has recovered in recent weeks. JPY weakens due to verbal intervention from Finance Ministry. Commodity currencies under pressure. Norges Bank leaves rates unchanged at 0.5%.

Speculative PositioningMarc Chandler

Significant Speculative Position Adjustment in the Currency Futures

FX OutlookMarc Chandler

Dollar's Technical Tone Improves, but No Breakout (Yet)
FX 4 Next WeekTF
Last week saw a US dollar recovery that was given an additional boost Friday in the form of a very strong April retail sales report. The outcome here, of course, is being felt in EURUSD, but look for weakness in the loonie as well.