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Saturday, July 1

1st Jul - 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

Weekly Market ReviewZH
June Gloom: Nasdaq Suffers Biggest Loss Since October As Dollar, Bonds, Economy Plunge

U.S. Weekly Fund Flows ReportLipper Alpha Insight
Funds Experience Net Outflows for the Third Straight Week

Earnings Insight June-30Factset

EcoWeekBNP Paribas
ECB: confidence, persistence, prudence * Global : Monetary tightening: Doomed if you do, doomed if you don’t?

Week Ahead: New economy – less inflation? Nordea
The most important data release next week will be the US payrolls. Especially the data on wages will be interesting in light of the already active discussion of the reasons behind the stubbornly low core inflation and central banks’ reaction to it.

Weekly Focus Danske Bank
Europe: Riksbank meeting US: June jobs and ISM manufacturing, FOMC minutes and speeches

Strategy: Central banks consider leaving the party Danske Bank
Central banks are beginning to discuss ‘when to leave the party’ * Interestingly, both Mark Carney and Mario Draghi argue that a constant monetary policy is becoming more accommodative as the economy continues to recover * There is a risk that central banks are too optimistic, as inflation expectations remain low * Draghi let the stimulus exit genie out of the bottle and we expect EUR/USD to move higher in 12M

Global Week AheadScotiabank
Canada: The trend is BoC’s friend * US: The Fed’s big chance to explain itself * Europe: UK PMI readings to inform Q3 growth risks * Asia: Will private Chinese PMIs confirm state versions? * LatAm: Inflation marching lower

Weekly FX Sentiment ReportScotiabank

Weekly Market OutlookMoody’s
Record Ratio of Debt to GDP Contains Growth and Interest Rates

Macro Weekly: Divergence in the global economy? ABN AMRO
Europa, China and Japan looking encouraging * US diverging briefly – most likely noise * Central bankers communication leading to confusion * Low inflation persisting

Speculative PositioningMarc Chandler

Speculators Scramble to Cover Short Canadian Dollar and Mexican Peso Futures

FX OutlookMarc Chandler

Normalization Ideas Weigh on Greenback
Macro CommentMarc Chandler

Two Policy Updates

FX Weekly – Nordea

Weekly Market Summary - The Fat Pitch

The crack that opened in NDX two weeks ago has widened further. The index has now fallen 5% and has broken below its 50-dma. The consistent historical pattern is for SPX to follow, lower. That hypothesis is further supported by bullish sentiment - at a 3-1/2 year high by at least one measure - and the exceedingly tight trading range in SPX over the past month which most often precedes an expansion in volatility.