IIFT Daily Note with Peter Brown

Greece off the agenda for now.

Posted by:  |  Time: 7:41 am  |  Topic:
Trading Is At Your Own Risk - Read Our Terms & Conditions

Finally they got the Greek deal done. Some interesting developments here for Ireland, especially the cut in funding costs. We got a cut ourselves the last time Greece did. Maybe something there for Mr. Noonan.

To the markets. The Euro hit 1.3000 resistance on the news and then fell back slightly. If we head aboce 1.3000 today we can reach 1.3150 short term. Failure to break will lead to a correction to 1.2880.

S&P bounced with all indices 1408 the high. Nothing much on the fiscal cliff which is now the main story for the year end. 1400 is support.

Market is in good mood at the present so downside will be limited in the absence of any news.

USD/JPY still going sideways and still overbought on the daily chart. Correction still ongoing.

Comments are closed.