IIFT Daily Note with Peter Brown

China and Ukraine set the tone.

Posted by:  |  Time: 7:47 am  |  Topic:
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We have opened negative this morning. Good NFP figures rallied the market Friday but we sold off quickly after. We may have reached a medium term high here after all we have come a long way in such a short time. Over the week end China reported bad trade data. A deficit ! Add to that the complicated situation in the Ikraine and we may have a down day on our hands. The Dax is already weak but watch the open for tone.

Looking for the AUD to continue it’s downward devaluation after the news. Elsewhere there is little in the way of news so it may be fairly stable trading session. Euro may make another assault on 1.3900/20 but should hold. Gold is softer due to China news, good support at 1320

Conditions today Calm/Choppy Levels are S&P (MAR) 1874  1863 Wall St (DFB) 16425 16340 DAX (FDB) 9360 9260  Euro 1.3900  1.3850

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