US
earnings, Fed policy and on top of the fiscal cliff, also the debt ceiling are
coming to focus. ECB and BoE meetings are the main events, US data is slow - so it will be a week dominated by deciphering statements from political leaders and the first earnings reports coming from the US.
Previously on MoreLiver’s:
LAST WEEK
Prices
Weekly
Scoreboard – Between
The Hedges
Weekly
Eurozone Watch – Global
Macro Monitor
Week in
Review – Global Macro Monitor
US market
portrait 2013 week 1 – Portfolio
Probe
U.S. Equity Sector ETF Performance – Global
Macro Monitor
Summary
for Week ending 4-Jan
– Calculated
Risk
The key
story of the week was the fiscal agreement. Unfortunately the media did an
excellent job of confusing most people…The economic data was mixed…It appears
2012 ended with sluggish growth. There are reasons for optimism for 2013, but
the austerity at the Federal level will be a significant drag all year.
The
Weekender – beyondbrics
/ FT
(podcast) MarketBeat Week Jobs, Debt Ceiling and
Search for Yield – MarketBeat
/ WSJ
The pros
and cons of the December jobs report, the looming debt ceiling and the search
for yield in 2013.
NEXT WEEK
Schedule
for Week of 6-Jan– Calculated
Risk
The key
report for this week will be the November trade balance report on Friday.
Next Week’s Tape – MarketBeat
/ WSJ
Next week
brings the first batch of earnings reports, led by bellwethers Alcoa and Wells
Fargo; there are also reports on the trade deficit and small-business
sentiment.
S&P 500 Earnings Week Ahead – Reuters
Wall Street Week Ahead: 'Cliff' concerns give
way to earnings focus
– Reuters
Investors'
"fiscal cliff" worries are likely to give way to more fundamental
concerns, like earnings, as fourth-quarter reports get under way next week.
Weekly Preview: Here I go again – BNY
Mellon
Weekly Focus: ECB meeting kicks off 2013 – Danske
Bank (pdf)
The main
event next week will be the meeting of the governing council of the European
Central Bank scheduled for Thursday. Although speculation about a rate cut rose
following last month’s meeting, we expect the ECB to remain on hold. The Bank
of England’s monetary policy council also meets on Thursday and we expect rates
to be kept on hold here as well.
Weighing the Week Ahead: Are Earnings
Expectations Too High? – A
Dash of Insight
Forward
earnings estimates are at an all-time high.
The oft-repeated pundit opinion is that analyst estimates are excessive
and must be reduced. The January earnings season often includes full-year
guidance. This is always interesting,
but perhaps even more so right now.
FX
Positioning and Technical Outlook – Marc
to Market
One of the
most important decisions participants in the foreign exchange must make is
whether to view the dramatic pullback in most of the major foreign currencies
seen in the early days of the new year as a reversal of the trend or as simply
an overdue correction.
The Weekly T Report: – TF Market Advisors
Weekly Credit Update – Danske
Bank (pdf)
EMEA Weekly – Danske
Bank (pdf)
Emerging: Week Ahead – beyondbrics / FT
EU Agenda –
euobserver
Ireland takes over the EU presidency this week, amid promises to help restore growth to the European economy.
Ireland takes over the EU presidency this week, amid promises to help restore growth to the European economy.
CALENDARS
Economic
Calendar – Forexpros
Economic
Calendar – fxstreet.com
Monthly
Economic Calendar – fxstreet.com
Economic
Calendar – BB
EU calendar – europa.eu
Markkinakalenteri
– Nordnet
Markkinakalenteri
– Taloussanomat
REFERENCE
Debt
crisis: live – The
Telegraph
Europe Crisis Tracker – WSJ
FX Options
Analytics – Saxo
Bank