IIFT Daily Note with Peter Brown

Dollar strength, equities look tired.

Posted by:  |  Time: 7:31 am  |  Topic:
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Dollar is still strong this morning, Euro at 1.2975 USD/JPY at 107.75. Equity markets however seem to have stalled a little. We are now well into May and the confidence to drive this market higher is fading slightly. We may be in for some side ways trading on the equity markets for a while. We lack any decent economic stats toady with only Retail sales at 1.30pm set to add any direction.

Concerns that the single banking supervisory will require a treaty change may soften Euroepen equity markets this morning.

All in all not a lot to go for early in the week. Range trading and few serious profit opportunities.

Levels are   S&P 1630  1622 Euro 1.3060  1.2940  Gold 1485  1425  USD/JPY 102.15  101.20


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