IIFT Daily Note with Peter Brown

CPI figures due today and tomorrow

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The one item that may trigger Mario Draghi into action is a further fall in inflation in Europe. In that regard the CPI figures due over the next few days may give some hint. Although I feel action from the ECB is far away the market may get excited something will happen. Reaction will be in the  Euro and the DAX .

Ukraine bubbles on  and we are trading news alerts from there. Market is sidelined between the desire to punch higher and the worries the situation will escalate. Sanctions are a waste of time and a face saving exercise from Obama. No appetite to hurt the Russian economy as it will only bounce back on Europe. So we are in a stalemate for a while. Expect market volatility without much direction. Plenty of stats to come and of course NFP on Friday.

Conditions today are Choppy

Levels are :-  S&P (JUN) 1873  1860 Wall St (DFB) 16550  16430 DAX (DFB) 9570  9450 Euro 1.3880  1.3850  Gold 1300  1290

Again trade the mood tech levels are not great.

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