IIFT Daily Note with Peter Brown

Market looks range bound.

Posted by:  |  Time: 7:37 am  |  Topic:  |  Comments: 4
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Probably famous last words but looking forward a couple of weeks the market looks set to be pretty calm. Stocks are support by QE and the unlikely end to it. The US economy is not strong enough to withdraw the stimulus, especially on the jobs front. So dollar weakness will continue. Unless we get a major surprise I expect this trend to continue over the coming weeks.

Euro and the Aud could benefit and we may see a break above 1.3300 targeting 1.3450  On the Aud, it is a volatile currency, but a correction may target .9600

Gold will be supported also  1300 support 1380 resistance.

Stocks may be a little volatile but S&P  1700  1670 should be the range.

Off for a break back in two weeks. Happy trading.

4 Comments

Martin Delaney

July 26, 2013

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Eenjoy. Staytuned :-D

Jack FitzPatrick

July 26, 2013

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Thanks for all the useful blogs…enjoy your well-deserved break in the sun JackF

yuvraj

July 26, 2013

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Peter enjoy your holidays. Have a great time.

Thanks for you insights.

Nina Noble

July 26, 2013

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Peter

Enjoy your holiday! Thank you for the excellent talk on Wednesday night. Really enjoyed it.

Nina