IIFT Daily Note with Peter Brown

High volatility continues

Posted by:  |  Time: 8:46 am  |  Topic:
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The interesting thing about Ukraine is we have now moved the American stance from indignation about Crimea to, if you stop there and leave the rest of Ukraine alone we are ok about it. This is very likely to mute the story and provided the Russians stay where they are everyone will move on. This is the way of politics.

We can now move on to US economic performance , which is improving although at a slow rate. Enough to stabilise this market but maybe not enough to make new highs. We are experiencing very volatile moves and this morning we have recovered Friday’s sell off. In reality we are not going anywhere fast. The DAX is probably the best performer and the biggest beneficiary from the Ukraine situation. FX is very stable and we are likely to have a sideways week until NFP figures.

Today will be calm/choppy still favour trading with the candles rather than fading moves.

Levels are S&P (JUN) 1870  1860  1850 Wall St (DFB) 16420  16320 DAX (DFB) 9645  9560 Gold 1300  1280 Euro 1.3800 1.3700

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