Plenty of material to open up the week. Both SPX and EURUSD are keeping the ranges and the Chinese positive news helped to reject the lows of the range for now. If you had a life during the weekend, take some time to review what I posted during the weekend.
Previously on MoreLiver’s
12.10. Weekender: Weekly Support (updated!)
12.10 Weekender: Best of The Week
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
3 Numbers to Watch: US Retail Sales, Empire
Manuf & Business Inv – Saxo Bank
US retail sales are expected to
continue last month's momentum and report a significant expansion in September.
The Empire Manufacturing survey is likely to show a rebound in manufacturing
output, while US business inventories are also due to expand.
The weekend
saw Chinese trade data released with the trade surplus widening to $27.67 bln
from $26.66 bln with a rebound in imports (+2.4 percent y/y from -2.6 percent
last) matched by better exports. AUD jumped but failed to hold gains
Market Preview: US Retail Sales on tap – Saxo
Bank
European
markets are expected to open mostly lower Monday as investors continue to weigh
the possibility of Spain seeking a bailout at the EU summit
scheduled later this week. Investors are awaiting US retail sales data due later today.
Danske Daily – Danske
Bank (pdf)
In China
exports and money supply growth beat expectations and inflation eased marginally
in line with expectations – less pressure for imminent easing * US Treasury
Department postpones foreign exchange policy review * Spanish Finance Minister
does not appear in a rush to ask for assistance * Market movers today: USD
Retail sales, Empire manufacturing, Q3 earnings: Citigroup
Aamukatsaus – Nordea
(pdf)
Kiinan ulkomaankauppa piristyi – kolmannen kvartaalin kasvu
hidastunee * EU:n huippukokouksesta ei odoteta merkittäviä päätöksiä * USA:n
kuluttajaluottamus piristyi – alkavan viikon talousluvuista rohkaisevia
uutisia?
Aamukatsaus – Tapiola
(pdf)
Edellisviikko päätyi perjantaina laskuun USA:n vahvasta
kuluttajaluottamuksesta huolimatta.
Kiinasta pitkästä aikaa odotuksia vahvempaa dataa
viikonloppuna. Aamulla tulosvaroitukset Talvivaaralta ja Cargoteciltä sekä
posari Aktialta. Sijoitussuositusten ja -teemojen seuranta:
Metso suurin pettymys, kokonaisuus lievästi plussalla.
Morning Briefing (EU/US): A look behind the
curtain – BNY
Mellon
A
fundamental force behind the EUR’s past performance is in a state of flux
Markkinakalenteri – Nordnet
Markkinakalenteri – Taloussanomat
EUROPE
High-up
euro zone sources in Tokyo told us that Spain could ask for aid next month at
the same time as the Greek bailout package and one for Cyprus are sorted out. All
roads appear to be pointing to the Nov. 12 meeting of euro zone finance
ministers. However, there are other voices saying that Spain could hold off until the new year.
OTHER
FX Comment: if anything – blame politics – Nordea
Suggestions for bulls and bears – Humble
Student
The stock
market has been consolidating in a sideways pattern for the past several weeks.
While I am still inclined to give the bull case the benefit of the doubt, my
analysis of relative leadership reveals sectoral leadership from both
aggressive high beta groups and defensive sectors of the stock market.
Will the EZ/China rely less on austerity
measures in coming months – Kiron
Sarkar / The Big Picture
The Punch Line: All The Charts That's Fit To
Print – ZH
Economies
are not looking that hot.
Out Of The 'Liquidity Trap' Frying Pan And Into
The 'Liquidity Lure' Fire – ZH
Via Citi's
Credit Strategy team