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Thursday, June 13

13th Jun - EU Open: Nikkei rots



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: Blue Chips See 2013′s First Three-Day Losing Streak – WSJ
Europe Morning MoneyBeat: Nikkei Rout Looms Over the Open – WSJ

MORNING BRIEFINGS
3 Numbers to Watch: ECB report, US retail sales & jobless claimsTradingFloor
The ECB releases its monthly review of macro and monetary trends today, followed by US updates on monthly retail sales and weekly jobless claims.

Market Preview: World Bank cuts global growth forecastTradingFloor
European markets are expected to open lower Thursday. The World Bank has cut its 2013 global economic growth forecast. Meanwhile, today’s ECB monthly report and US retail sales data will garner market attention for further direction to risk appetite.

Danske DailyDanske Bank (pdf)
We expect a decent US retail sales report for May. Growth in headline retail sales is expected to come out at 0.2% and we forecast an increase of the same magnitude in retail sales excluding gasoline and cars. Speeches by ECB’s executive board members Coeure and Asmussen as well as Bundesbank’s Weidmann could attract some market attention following the hearing on ECB’s OMT programme in the German Federal Constitutional Court

AamukatsausNordea
EM-valuutat kärsivät, mutta selviävät * Euroalueen teollisuuden nousu rohkaisevaa, mutta väliaikaista * Jeni alimmillaan yli kuukauteen

MarkkinakalenteriNordnet
MarkkinakalenteriTaloussanomat


ASIA
Nikkei, rot to routalphaville / FT
Slightly wearying, all this see-sawing in Japan. The Nikkei fell more than 6 per cent at one point on Thursday, though it had rallied a bit at pixel time. Still heading towards bear territory.

Foreign Investors Not Responsible for Nikkei DeclineMarc to Market

Nikkei Back in Bear Market TerritoryWSJ

OTHER

USDJPY continues to wreak havocTradingFloor
JPY: picking bottoms in a high momentum market is hazardous to your health…USD: US dollar remains broadly under pressure from the USDJPY onslaught…EUR is finding an additional boost this morning after the ECB’s Asmussen was out in a radio interview saying that the ECB can’t solve Europe’s problems and that structural reforms are the way to go…US Retail Sales as the major highlight of the day

Emerging-Market Volatility Shows ‘Herd Mentality’WSJ