IIFT Daily Note with Peter Brown

Euro range bound ahead of ECB.

Posted by:  |  Time: 7:39 am  |  Topic:
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Very narrow range on the Euro. 1.3520  1.3460 . Tomorrow is the first big day of the week. The ECB rate announcement is the first thing. No change I feel. The ECB are always slow to cut and backing that is a good strategy. It is the comments at the press conference that will move the market. Dovish comments will send the Euro through 1.3460 support on it’s way to 1.3200 area. No mention of measures to ease monetary conditions and we rally.

Stocks are amazing at present. Good trading opportunities buying the dips. Market is underpinned as we have said and any sell off like yesterday is a buying opportunity.

Levels today are  Euro 1.3520  1.3460  S&P (DEC) 1767  1757  Wall St (DFB) 15685 15585

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