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Sunday, January 8

8th Jan - Weekly Support

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

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Weekly ScoreboardBetween The Hedges

Succinct summation of week’s eventsThe Big Picture

Bloomberg’s What'd You Miss in Markets This Week?Youtube

S&P 500 Snapshot: First record close of 2017dshort

US Schedule for WeekBill McBride

Week ahead - Berenberg
Wall St Week AheadReuters
Rising REITs back bets on stronger economy

Weighing the Week Ahead Jeff Miller
We have a reasonable volume of economic data, but few important reports. We are awaiting earnings season. The elephant in the room (sorry – I just couldn’t help myself) is the transition to the Trump Administration. Many are tired of hearing about this and thinking about the consequences, but that is not a sound plan for the intelligent investor. The punditry is far from exhausting this topic. They are making their own transition from Candidate Trump to President Trump. In the coming week, the punditry will be asking: What can investors really expect under Trump?

EcoWeekBNP Paribas
A weak euro for long * A critical year for climate negotiations * Eurozone job market healthier

Week Ahead: Guidance from Fed and maybe Trump  Nordea
Donald Trump’s press briefing on Wednesday might shed light on his political agenda. In the absence of major data releases, Fed Chair Yellen and other speakers will set the tone for markets. Sweden, Denmark and Norway will publish inflation numbers.

Weekly Focus: One eye on politicians Danske Bank
Trump speaks, UK prime minister speaks on Brexit

Strategy: 2017 starts where 2016 ended Danske Bank
Global recovery and reflation gain momentum with strong PMI numbers and euro inflation prints this week * However, US yields have peaked for now, while the European curve will steepen * Turbulence in Chinese FX market spilling over into major FX markets * Equity market rally to take a breather for now, but we recommend buying on the dips * Near-term risk factors to watch
out for are stretched surprise index, further China turbulence and Trump inauguration on 20 January.
Week AheadHandelsbanken

Global Week AheadScotiabank
US: Earnings, Fed and the wrap on holiday shopping * Europe: Political risks shift into higher gear * LatAm: Central banks will be the first to get back to work * Asia: Overstated Chinese reflation * Canada: The week after will be what matters

Weekly FX Sentiment Report Scotiabank

Weekly Market OutlookMoody’s

Macro Weekly: Is it Trump or not? ABN AMRO
Business confidence indices strengthened across a remarkably wide range of countries in the latter part of 2016, indicating an upturn in global cyclical conditions. The crop of economic indicators released early in the New Year followed the recent trend with a remarkable further rise in confidence, already standing at multi-year highs in many cases. This leads to two obvious questions. First, where is this strength, which is more robust than was generally expected, suddenly coming from? And second, what does this imply for the real economy?

Speculative PositioningMarc Chandler
Bulls and Bears Took on More Currency Exposure

FX OutlookMarc Chandler
State of Dollar's Correction

Macro CommentMarc Chandler

Macro Forces Underpin Dollar, Equities and Yields
FX trading themes next week TF
Volatile EURUSD likely best traded via options * USDJPY appears set for further rebound * Kiwi weakness makes Aussie, loonie trades attractive * NOK looks somewhat undervalued, particularly versus EUR

Weekly Market SummaryFat Pitch
US equities are starting the year at new all-time highs. The rally is supported by healthy breadth and a relatively solid economic foundation. The biggest watchout is volatility, which has fallen to an extreme. A mean reversion in volatility is odds-on and that is normally unfavorable, short term, for equities.