IIFT Daily Note with Peter Brown

A new Year.

Posted by:  |  Time: 7:43 am  |  Topic:
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Welcome back for the New Year. Firstly can I wish everyone a prosperous time trading.

This morning we have PMI’s out in Europe which should kick start the mood. We have rallied hard on equities and the dollar over the Christmas and we have to see if that continues. On the macro view I see no reason not to buy equities and dollars but we may need a correction from these extreme highs. These two days may be a bit fishy and the market may be trying to find it’s feet. Next week we may see the clear direction.

We are going to introduce a daily forecast, a prediction on the volatility of the market.

Calm indicates the market will range Euro 50 points S&P 70 points.

Choppy indicates the market will look lively and the Euro may do 70/90 points and the S&P 100/150

Hurricane indicates the market is set for serious volatility and trading could be 150 points plus.

It is important to set your expectations accordingly. We will not always get it right and conditions will change throughout the day depending on news, but we hope it will help.

Today we expect the market to be Calm due to the Holidays.

Levels are Euro 1.3825  1.3725  S&P (MAR) 1850  1843  Wall St (DFB) 16600  16560

Levels are best I can do, first day back.

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