IIFT Daily Note with Peter Brown

A quiet week ahead?

Posted by:  |  Time: 7:28 am  |  Topic:  |  Comments: 2
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Very little on the economic calender this week. market should be fairly stable unless the Detroit bankruptcy causes a stir. So far bad news is having minimal effect on these markets. Low interest rates and QE are driving funds into stocks. We have come a long way in the recent rally, are we going to correct or punch forward to 1700?

This morning is a wait and see on sentiment. It is a 50/50 call on whether we push on or take some money off the table. So I am going to be patient and wait for the mood to emerge and then go with that.

Thec. levels are working well on the Euro 1.3200   1.3100  S&P harder as we are at new highs. 1700  1678  1672

2 Comments

Andrew O' Connor

July 22, 2013

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Hi Peter
Where do you see the dollar goin if the earnings and housing starts are weak this week?

    Peter Brown

    July 22, 2013

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    Hi Andrew,

    Dollar under a bit of pressure this morning. Detroit bankruptcy etc. It will go lower if the above are weak.

    Could be a pretty quiet week though.

    Peter