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Thursday, August 1

1st Aug - EU Open: ECB and BoE ahead



Previously on MoreLiver’s:

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Roundups
News roundup – Between The Hedges
The 6am Cut London – alphaville / FT
Emerging Markets Headlines – beyondbrics / FT
Asia Morning MoneyBeat: Rally Stalls – WSJ
Europe Morning MoneyBeat: Fed Departs Left Stage, ECB and BOE Arrive WSJ


MORNING BRIEFINGS
3 Numbers To Watch: UK manufacturing PMI, BoE statement, US ISMTradingFloor
Updates on UK Manufacturing PMI and US ISM Manufacturing data, along with the Bank of England's interest rate decision, are among the main events for today’s schedule of economic releases.

Market Preview: European central bankers in focusTradingFloor
European markets are likely to open higher Thursday. Traders await the BoE and the ECB interest rate decisions due later today. Against the backdrop of upbeat Chinese official manufacturing data, manufacturing PMIs in Europe and the US will be eyed.

Danske DailyDanske Bank (pdf)

Market comment: Where’s the taper?Nordea
Treasuries rally in the aftermath of the Fed – potential for more gains * Asian equities boosted further by the official Chinese PMI * No new signals on tapering from the Fed * IMF warns on the Greek funding gap * Strong ADP report from the US – GDP growth picking up * Please guide us * ISM index today’s most important data release * Issuance continuing with Spanish auctions

AamukatsausNordea
Fed ei tarjonnut vihjeitä ostojen lopettamisesta * Keskuspankkikimara: EKP + BoE * USA:ssa työllisyystilasto yli odotusten

AamukatsausTapiola (pdf)


Eilen FED julkaisi korkokokouksensa päätökset, jotka pitivät rahapolitiikan odotetusti ennallaan. Markkinat eivät kuitenkaan saaneet toivottua tarkennusta elvytyksen supistusaikatauluun. Markkinan suunta:  Osakemarkkinoilla edelleen pieniä liikkeitä, USA:n keskuspankin kokousmuistiosta ei uutta merkittävää informaatiota. USA:n 2Q:n BKT yllätti positiivisesti, mutta edellisen neljänneksen korjaus alaspäin tasoitti yllätystä. Osakefutuurit plussalla, indikoiden nousuavausta OMX HEX:iin. 2Q13-tuloskauden kommentit: Neste Oil, Sanoma, SRV, Trainers’ House ja Vacon. Tänään tulee vielä: Nurminen Logistics, Scanfil, klo 11.00 Affecto ja klo 12.00 Metsä Board.

MarkkinakalenteriNordnet
MarkkinakalenteriTaloussanomat


EUROPE
BOE Rate Cut ‘Unlikely, Not Impossible’WSJ

Will Draghi Open the Book on ECB Meetings? (And Other Questions)WSJ

UNITED STATES
Obama defends Summers as he mulls Fed pickReuters
President Barack Obama defended Lawrence Summers on Wednesday in the face of concerns by fellow Democrats that the president may name his former economic adviser as chairman of the Federal Reserve, lawmakers said.

ASIA
Great Graphic: Japan's PMI and EquitiesMarc to Market

China HSBC PMI dips to 11-month low in JulyReuters
China Pledges to Keep Growth Within ‘Reasonable Zone’BB
China factory sector struggles, big firms fare betterReuters

FINNISH
Kreikan pelastuspaketista uupuu 11 miljardiaTE
IMF: Kreikka tarvitsee lisää rahaa ja velkahelpotuksiaTalSa