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Friday, July 22

22nd Jul - UK Flash PMI fell hard



Previously on MoreLiver’s:



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EUROPE
Banks Brace for European Stress-Test Results on July 29: Q&ABB

Erdogan Will Need to Liberalize Turkey to Survive – View / BB

Results of the Q3 2016 ECB Survey of Professional Forecasters  ECB


UNITED STATES
Editorial: Donald Trump's Dark Vision – View / BB
Trump's Still Wooing His Own Party Faithful – View / BB

Why getting stuck without a job is mostly a matter of bad luck – WaPo


REGULARS
Danske DailyDanske Bank

Eye-OpenerNordea
Nothing new from Draghi; PMIs to give first post-Brexit indications; equities losing steam * First hint of impact of Brexit vote on the Euro-area economic outlook * EUR exposed to weaker PMIs * Bund yields test the 0% again

Morning MarketsTF
Asian stocks took a breather today after a week of strong sessions although the falls were relatively limited. All eyes will be on Europe later as July’s flash PMIs provide a first glimpse into how the Eurozone is dealing with the uncertainty following Brexit.

Euro wrap-upDaiwa

Daily Market CommentMarc Chandler
Flash PMIs Show Brexit Impact Localized

Daily Market CommentMacro Man
Friday thoughts

Daily Press SummaryOpen Europe
French President warns that EU’s ‘four freedoms’ are indivisible but concedes ‘preparation’ necessary before Article 50 invoked by UK * Survey data points to sharp slowdown in UK economy * Trump signals he would set conditions for US’ defence of NATO allies * ECB in ‘wait-and-see’ mode following Brexit as Draghi calls for public backstop to help banks offload bad loans * German business association calls for “balance” on EU talks with Britain on single market access and reform of free movement * Corbyn: Referendum result has to be respected *    Luxembourg’s Finance Minister says London could prosper outside the EU * EU and US at odds on Turkey’s post-coup crackdown * Brazil keen to start free trade talks between the UK and Mercosur

Brussels PlaybookPolitico
Trump’d dystopian America — Orbán’s migration posters

US Open ZH
US Futures Rebound Despite Global Stock Weakness As USDJPY Ramps Higher

FrontrunningZH

FX Update TF
The latest news of even larger potential Japan fiscal stimulus in the pipeline failed to generate much enthusiasm for JPY selling overnight. EURUSD continues to grind around 1.1000 without conviction after Thursday's drab European Central Bank meeting.

From the FloorTF
The European Central Bank's Thursday meeting offered markets very little to feed on for the time being, and instead boosted the stakes for action in September. Asian equity markets fell broadly on Friday.


FINNISH
AamukatsausNordea
Lisävaloa Brexitin vaikutuksista * Tänään euroalueen ostopäällikköindekseistä vihiä Brexit-äänestyksen vaikutuksista * USA:n teollisuuden luottamus pysyttelee matalana *​ EKP julkaisee tänään ekonomistien kyselyn tulokset tulevien vuosien kehityksestä