IIFT Daily Note with Peter Brown

Market drifts lower.

Posted by:  |  Time: 7:01 am  |  Topic:
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With tapering back on the agenda and the debt ceiling, the market drifted lower. We are practically back to pre FOMC levels. The result of the German election was taken in stride by the markets, no big effect there. Euro is lower and looks set to continue from it’s highs. Some big names calling for a strategic short on the pair due to rate differentials between the two economic blocks. So some dollar strength and some Euro weakness. Even though the market is relatively calm there are big moves to be had. It is a real go with the flow sort of situation. Establish the mood and go with it.

Today I will be looking for the Euro to drift lower 1.3525  1.3460  S&P 1708  1688

German business climae at 8.00 could give the Euro a bounce to sell into.

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