IIFT Daily Note with Peter Brown

Good rally in stocks FX flat.

Posted by:  |  Time: 7:14 am  |  Topic:
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S&P rallied last night but the Euro was flat. As expected the EU leaders summit just showed how divided they are and incapable of a coordinated postiion. So basically they left the coast clear for further falls.

1.2600/25 should cap any Euro bounce. 1320 on the S&P .

We need to keep an eye on Gold for a buying opportunity at 1525 area.

My new target for the Euro is 1.1900 (not in a straight line)

Catch the mood first this morning, this market is capable of bouncing.

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