IIFT Daily Note with Peter Brown

Economic releases will dominate today.

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CPI’s in Europe along with industrial production. In the US PPI. Enough to keep the market choppy. Yesterday we saw further falls in the Euro and we expect the downward trend to continue into the next ECB meeting in June. 1.3450 is my target. The stock markets will benefit from a stimulus package so the DAx is putting in some impressive rallies. In the US despite bad Retail sales figures, the market held in strongly. We are at all time highs on the S&P cash at 1900 and given a clean run on news we are set to burst higher. Can see no reason for stocks to decline

Conditions today are Choppy

Levels are :- S&P (JUN) 1900  1892  Wall St (DFB) 16750  16700 DAX (DFB) 9800 9735  Euro 1.3750  1.3700  Gold 1305  1280

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