IIFT Daily Note with Peter Brown

Greek default vs FOMC

Posted by:  |  Time: 7:19 am  |  Topic:
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Another useless Euro leaders summit. The Greek default will happen soon. On the horizon this week is the FOMC in the US.

Traders are expecting a rabbit from the hat event, in the guise of QE3. Only thing keeping the market from melting down.

Expect volitility as usual this week. The FOMC is the main event and may keep markets hopefull untill then.

Euro may claw it’s way back towards 1.3960 but I am selling every rally.

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