IIFT Daily Note with Peter Brown

Is this time different?

Posted by:  |  Time: 7:17 am  |  Topic:
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Not bouncing with the short covering mania we have seen in the past. This latest rally was very short lived.

Euro looking pretty sick this morning. If the GDP figure for Europe at 10am is bad we could see new lows. I would be very careful buying this market, eventually we will head a lot lower.

Still think we sell on any bounce untill we get a substantial move to solve this crisis. That is a change of stance from the ECB. As yet they are stuck in the sand. Most likely is Merkel’s Treaty change strategy towards the United States of Europe. That will take months and has a very uncertain outcome.We may see 1.2500 before Christmas.

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