Supposedly a quiet Friday, as there are no events or numbers marked into the calendar. I disagree. It is Friday, usually a very good day for market movement as people square off their positions ahead of the weekend. Markets are also at somewhat important levels - EURUSD has climbed back up to 1.30, and either turns down again for new lows (1.2850 perhaps) or breaks back up and the bull trend would be continuing. SPX future is similarly licking the 1560-resistance, and Spanish bond yields look far easier today, after the 6% yield was rejected yesterday. My bet is today will be a risk-on day: funny, as markets are already at resistance levels and one would easily be inclined to expect the exact opposite.
Previously on MoreLiver’s:
Roundups
News roundup
– Between
The Hedges
The 6am Cut
London – alphaville
/ FT
Emerging
Markets Headlines – beyondbrics
/ FT
Reference
Debt
crisis: live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
MORNING BRIEFINGS
Mario Monti’s reform agenda has been
impressive; its implementation less so
Consolidation after a volatile week was the
theme across Asia today with little in the way of data to lead the way. The only data
release of note was the Conference Board’s leading indicators for Australia for July which came out flat on the month
European markets are expected to open higher
Friday tracking gains in Asian markets. Market sentiment received a boost amid
reports that Spain could seek an aid package within a week. Meanwhile, UK public finances data
will be closely eyed today.
FT reports that Spain is in talks with the
EU on plans to trigger ECB bond buying. Minneapolis Fed President
Kocherlakota presents his ‘liftoff’ plan, arguing that rates should be kept
extraordinarily low until the unemployment rate has reached 5.5%. The calendar
is very thin today with no key movers. A couple of speeches from ECB members
might attract some attention but otherwise there will be little new information
to trade on.
Aamukatsaus – Nordea
(pdf)
Espanja valmistautuu
tukipyyntöön * Euroalueen talouden taantuma ei hellitä * EURUSD painui takaisin
tason 1.3000 alle
Aamukatsaus – Tapiola (pdf)
Aamukatsaus – Tapiola (pdf)
Euroalueen
palvelualojen ostopäälikköindeksin sekä kuluttajaluottamuksen ennakot jäivät
odotuksista, mikä kertoo euroalueen sisämarkkinoiden odotuksia heikommasta
tilasta. Markkinan suunta: Osakemarkkina ei reagoinut merkittävästi
heikkenevään makrodataan. Euroopan taloustilanteen liuku jatkuu, etenkin
palvelut ja kuluttajien tilanne heikkenee. Osakefutuurit indikoivat nyt aamulla
nousuavausta. Metso peruutti suunnittelemansa lisäosingon. Uponor yhdistää
infraputket KWH:n kanssa.
Morning Briefing (EU/US): Free fallin’ – BNY
Mellon
Will Congress allow the US economy to plunge
over the ‘fiscal cliff’?
Markkinakalenteri – Nordnet
Markkinakalenteri – Taloussanomat
IN FINNISH
Kuva-arvoitus
demareille ja Vasemmistoliitolle – Henri
Myllyniemi / US Puheenvuoro
Suomi - parasta AA(A)
luokkaa 2013 – Ville
Kauppinen / US Puheenvuoro
Pääkirjoitus: Ruotsi
räyhäsi, Suomi katsoi sivusta – HS
TV1:n
kunnallisvaalitentti ei innostanut – Jyrki Virolainen