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EUROPE
IMF’s Internal Watchdog Rebukes the Fund for Its
Handling of the Euro Crisis
– WSJ
IMF admits disastrous
love affair with the euro – The Telegraph
UNITED STATES
5 Things to Watch in the
Second-Quarter GDP Report - WSJ
OTHER
Fasten Your Seat Belts: Tomorrow Promises to be
Tumultuous – Marc
Chandler
REGULARS
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
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 Summary
– Open
Europe
Brussels Playbook
– Politico
US Open – ZH
US Futures Rise With All Eyes On
Kuroda As Global Stocks Tread Water
Frontrunning
– ZH
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.
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.
FINNISH
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