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Thursday, July 28

28th Jul - IMF admits it fucked up

Previously on MoreLiver’s:

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IMF’s Internal Watchdog Rebukes the Fund for Its Handling of the Euro CrisisWSJ
IMF admits disastrous love affair with the euroThe Telegraph

5 Things to Watch in the Second-Quarter GDP Report - WSJ

Fasten Your Seat Belts: Tomorrow Promises to be TumultuousMarc Chandler

Danske DailyDanske Bank

Fed turns more hawkish, bonds still rally, EC soft on Spain and Portugal * UK economy accelerated ahead of the Brexit vote * Fed fund futures stayed broadly unchanged as Fed turns more hawkish while underscoring a gradual pace towards tightening, hence weaker USD

Morning MarketsTF
From the Fed came a statement slightly less hawkish then anticipated and the USD fell across the board. Today we will get an update on US labour market status as well as similar data from Germany both are believed to do fairly well. The question remains how the rest of Europe is positioned.

Euro wrap-up Daiwa

Daily Market Comment Marc Chandler
Dollar Pulls Back Further Post-FOMC

Daily Press SummaryOpen Europe

Brussels PlaybookPolitico

US Open ZH
US Futures Rise With All Eyes On Kuroda As Global Stocks Tread Water


FX UpdateTF
The latest FOMC statement failed to support the USD rally further sending the greenback lower. The more important (and more anticipated) BoJ meeting is up in Friday’s Asian session and the BoJ can only surprise as expectations for the bank are mixed and fraught with uncertainty.

From the FloorTF
With the FOMC's very mild outing behind us markets now await the Bank of Japan's monetary policy meeting overnight. While we have seen big JPY price swings of late due to both hopes and doubts concerning massive stimulus investors ultimately remain a little confused over what Tokyo has in store.

Japanin keskuspankki yrittää keventämällä saada inflaatioon vauhtia * Markkinoiden odotukset Fedin koronnostotahdista pysyivät maltillisina * Britannian talous kasvoi toisella neljänneksellä odotuksia enemmän *​ Tänään julkaistaan euroalueen talouden luottamus