IIFT Daily Note with Peter Brown

Quiet day ahead.

Posted by:  |  Time: 7:32 am  |  Topic:
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IIFT 2

Good Morning

Well, a pretty flat day yesterday after the rally previously. The market has calmed down as the Korean situation is diffused. Now there is no story and the market is back to its summer calm and directionless state.

We only have crude oil inventories and Fed minutes Continue Reading →

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Back from the brink

Posted by:  |  Time: 7:32 am  |  Topic:
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iift-email

Good Morning

Well, North Korea looks like they are backing off as China ratchet up the sanctions. That has diffused the markets and we experienced a big bounce. Top to bottom the correction in the S&P was 2.4% a pretty small move in historical terms. Again we state that unless Continue Reading →

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Market needs some calm.

Posted by:  |  Time: 7:29 am  |  Topic:
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iift-email

Good Morning

Thank you to all (100 plus) who attended the summit on Saturday. I hope it wasn’t us who ¬†drove the price of Bitcoin above $4,000! I hope you all got something from the event.

This market is all about Trump and Korea and the political internal mess in Continue Reading →

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Korean tensions dominate.

Posted by:  |  Time: 7:36 am  |  Topic:
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iift-email

Good Morning

I doubt this Korea story would have as much market reaction if we were in September. The thin August market combined with the desire for some sort of correction is what is at play here. Markets like corrections; it is like taking a breather on a long hike, Continue Reading →

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Markets going nowhere really.

Posted by:  |  Time: 7:25 am  |  Topic:
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A IIFT 2

Good Morning

Still about North Korea for now, but no new headlines. I think it will calm down behind the scenes and we will move on to something new. Earnings continue to come in better than expected and that is supportive of markets but direction is hard to find.

Dollar Continue Reading →

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Trump and Korea dominate.

Posted by:  |  Time: 7:35 am  |  Topic:
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A IIFT 2

Good Morning

It turned out to be a very choppy day yesterday which was a surprise. The market did the up and down action we expected but late on all markets got clobbered on the Trump/Korea issue. Certainly rhetoric like that will move summer markets. All a storm in a Continue Reading →

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Expect very quiet trading conditions.

Posted by:  |  Time: 7:32 am  |  Topic:
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A IIFT 2

Good Morning

The market has settled down for the next few weeks. Unless we get a story we are in for a quiet run. The DAX has bounced a bit and the dollar has levelled off. The big mover for now is sterling and the FTSE. When sterling is weak Continue Reading →

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NFP is the main event.

Posted by:  |  Time: 7:33 am  |  Topic:
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iift-email

Good Morning

Main news yesterday was the down grading of UK economic data from the BOE. That has certainly put a weakness into sterling and we are now trading above .9000

Outside of that the DAX continued along the floor and the US markets held up.

The GBP straddle was Continue Reading →

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More of the same really.

Posted by:  |  Time: 7:34 am  |  Topic:
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A IIFT 2

Good Morning

We are getting the volatility but not the direction. Euro strength is keeping the DAX under pressure for now. The S&P had another up and down day but the Dow was bolstered by Apple.

Today is all about the UK and a raft of data at 12.00. We Continue Reading →

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DAX is the big mover, at last.

Posted by:  |  Time: 7:28 am  |  Topic:
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IIFT 2

Good Morning

It was a bounce for the DAX yesterday after we hit support at 12,100. I think that could be it for now and we will start to see the DAX rally back strongly. Yes the Euro is up at 1.1800 but I am expecting a pull back there Continue Reading →

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Dollar lower again.

Posted by:  |  Time: 6:42 am  |  Topic:
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iift-email

Good Morning

The dollar is the big mover in the market and that is keeeping a certain level of volatility going in all other products. Trump and all the sensational headlines is the cause, otherwise the market is very calm and devoid of news.The sacking of Mr Scaramucci yesterday evening Continue Reading →

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Trading conditions looks good

Posted by:  |  Time: 7:34 am  |  Topic:
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iift-email

Good Morning

All markets are pretty predictable at the moment. The DAX is lower because the Euro is higher. The dollar is lower because Janet Yellen is not as hawkish as Mario. Gold and silver are higher because the dollar is lower. The S&P and DOW are moving sideways through Continue Reading →

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S&P takes a hit.

Posted by:  |  Time: 7:26 am  |  Topic:
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iift-email

Good Morning

A quiet market ended very volatile after London close when the S&P lost 200 points. A reversal in tech stocks is the best reason I can associate but the fact that Trump was heading for a loss on his health bill may have exacerbated the selling. Quite an Continue Reading →

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Dollar down on Janet.

Posted by:  |  Time: 7:31 am  |  Topic:
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IIFT 2

Good Morning

Pretty much as expected yesterday. The market started off strong and more or less held that mood all day. Janet was totally benign at 7pm and that thumped the dollar which meant gold and silver jumped.

That is it in regards to Central bankers until September, so Continue Reading →

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More of the same and a few straddles.

Posted by:  |  Time: 7:35 am  |  Topic:
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iift-email

Good Morning

Again it was a fairly active day with plenty of action and up and down movement. At the end of the day we had a stronger dollar on the back of some good data but indices were unchanged. Even gold and silver and oil were punchy markets.

We Continue Reading →

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Markets have all settled down.

Posted by:  |  Time: 7:35 am  |  Topic:
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A IIFT 2

Good Morning

We had a fairly stable up day yesterday. No surprises or big moves. It did take the DAX a long time to find support and the rally when it came was less than I expected. There is no doubt some damage has been done and there is a Continue Reading →

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All action on the DAX and Euro.

Posted by:  |  Time: 7:31 am  |  Topic:
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iift-email

Good Morning

The end of last week was all about Draghi. Boy did he upset the market. We now are speculating that tapering (the reduction of QE) will start in the autumn, the Euro roared and the DAX plummeted.

There is a stark difference now between European indices and the Continue Reading →

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Draghi upsets the market unintentionally.

Posted by:  |  Time: 7:37 am  |  Topic:
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iift-email

Good Morning

Yesterday was all about the ECB and Mario Draghi. I thought he did his best to sound dovish but the market was not willing to listen. They focused in on any comments that were bullish economically and reacted accordingly. The Euro roared and the DAX got a thumping. Continue Reading →

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Draghi set to stall until September

Posted by:  |  Time: 7:33 am  |  Topic:
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iift-email

Good Morning

Yesterday was a good day for the indices, S&P doing a bit better than the DAX, all in all though more of the same really. The Euro has settled down under 1.1600 and that has calmed the Euro indices down.

All the hype is around today and the Continue Reading →

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Indices are whizzing up and down.

Posted by:  |  Time: 7:30 am  |  Topic:
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A IIFT 2

Good Morning

We are whizzing up and down and with a good bit of volatility. We are not going in a sustained direction however and that is typical of summer markets. Certainly some of the earnings announcements are interesting. Goldman yesterday, hurting on the bond and commodity side. Great news Continue Reading →

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