IIFT Daily Note with Peter Brown

ECB this week

Posted by:  |  Time: 8:07 am  |  Topic:
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The main event this week is the ECB press conference on Thursday. Focus is firmly on the Euro Zone and falling inflation. Expectations are for Mr Draghi to announce some sort of stimulus but what and how is the question. He may duck the issue completely as the German lobby are not in favour. Equities this week will continue to be volatile as we digest the effects of emerging market and tapering. We have had a choppy start to the year and it is likely to continue for some time. The situation in Emerging markets is hard to define and has a lot to do with confidence. The situation will be fluid but has the potential to turn nasty.

Euro looks set to continue to fall, maybe a little low to start the week but definitely a sell on rallies up to Thursday. PMI’s This morning.

Conditions today are choppy 

Levels are  Euro  1.3545  1.3480  S&P (MAR) 1787  1764  Wall St (DFB) 15820  15675

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