IIFT Daily Note with Peter Brown

Market volatile but without direction.

Posted by:  |  Time: 9:43 am  |  Topic:
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As we expected yesterday we had a choppy market based around economic releases. One important market change is, with tapering in sight, bad news is getting a bad reaction. This contrasts earlier in the year when bad news meant further QE and the market rose. The S&P fell 130 points on the down move and later recovered all of them, amazing! Dollar is showing some signs of strength against the Euro and Jpy.

Today early, GDP figures from Germany and France are better than expected Euro GDP is at 10am. Outside of that little in the way of stats.

Expect another ranging day  S&P  1693  1680   Euro support at 1.3235  and 1.3180  resistance at 1.3320

 

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