IIFT Daily Note with Peter Brown

GDP and CPI in Europe today.

Posted by:  |  Time: 7:38 am  |  Topic:
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It is going to be a big day for Europe. The CPI figures will give a good indication as to where inflation is heading and will be a pointer to Mario Draghi’s thinking about stimulus. I still feel he is a long way away from action but today’s figures are likely to put pressure on him. DAX and the Euro will be the big movers. A further fall in inflation will make the Euro test 1.3780 support. Better than expected and we will bounce back into the range.

Stock markets are a little more settled, balanced between the natural instinct to go higher and worries over Ukraine. Markets are news driven at present so it is a go with the flow strategy. Friday is NFP so we may tread some water until then.

Conditions today are choppy.

Levels are S&P (JUN) 1875  1863  Wall St (DFB) 16560  16475  Dax (DFB) 9600  9500 Euro 1.3850  1.3780  Gold 1300 1288

 

 

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