Europe 'surprised' by bad service PMI's, but the horror was pretty much expected after the manufacturing PMI's deterioration. Eyes now on Draghi on Thu. Again, no interest rate cuts expected, but the words will be scrutinized like never before.
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
Economic
Calendar – Forexpros
MORNING BRIEFINGS
Euroland
retail sales, plus a preview for US payrolls and an update on the US services sector brings fresh data
for re-evaluating which side of the Atlantic harbors more risk.
European
markets are expected to open higher Wednesday. UK Chancellor George Osborne's Autumn
Statement today is likely to garner market attention. Additionally, traders
await services PMI data across Europe also due today.
Chinese
stocks rise strongly on new push for urbanisation. Germany’s Wolfgang Schäuble puts brake on
bank union plan. Australia’s Q3 GDP rose 0.5% q/q. Main releases today are US ISM
non-manufacturing and ADP employment
Morning Briefing (EU/US): Losing my religion – BNY
Mellon
Riksbank
would have to place its official mandate on hold if it were to release the bee
from its bonnet
Aamukatsaus – Nordea (pdf)
Talousnäkymät: Kohti parempaa uutta vuotta * Hidasta kasvua
Suomen BKT:ssa * EUR/USD jatkoi nousutrendillä euroalueen ongelmien helpotettua
hieman
Aamukatsaus – Tapiola
(pdf)
Osakemarkkina eteni eilen ilman suuntaa, kun uutisvirta oli
kevyttä. Kiinan uuden johdon arviot taloudesta tukevat oletusta Kiinan
tulevasta lisäelvytyksestä. Osakefutuurit plussalla, indikoiden nousuavausta. Neste
Oil sekä Orion lähemmässä tarkastelussa: Neste Oilin kiinnostavin osa
uusiutuvat polttoaineet edelleen kannattavuudeltaan mysteeri. Orionin vahva
kehitys väistämättä hiipuu, mutta kulmakerroin on epävarma.
Markkinakalenteri – Nordnet
Markkinakalenteri – Taloussanomat
UNITED STATES
Monetary Policy to Become Easier Next Week? – Tim
Duy’s Fed Watch
There are
reasons to expect the Fed would go the full monty. Notably, the fiscal cliff drama already
appears to be affecting the economy, even though it is more risk than
reality. But why are inflation
expectations sliding? And what does that
imply about the effectiveness of additional easing at this juncture? Important but as of yet unanswered
questions.
Some
surprising market leaders – Short Side of the Long
ASIA
For China
Stock Markets, It’s All in the Charts – WSJ
OTHER
Global Scenario: The
tide is turning – Danske
Bank (pdf)
Some surprising
market leaders – Humble
Student
Global market chart overview and commentary