IIFT Daily Note with Peter Brown

Fiscal Cliff worries cause sell off

Posted by:  |  Time: 7:41 am  |  Topic:
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Market pretty steady all round except for the S&P. We reached sell levels above 1420 but sild off agressively late on. This pattern will dominate. Only 7 working days to find a solution. I don’t think they will make it. Market should remain soft today.

Levels are 1410  1400 

Euro is sidelined. Slight dollar weakness is supportring the pair. Not much Euro news anticipated so little to go for there.

USD/JPY still sidelined. Not inclined to buy it ahead of the Cliff solution.

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