IIFT Daily Note with Peter Brown

Melt down for the Euro?

Posted by:  |  Time: 7:07 am  |  Topic:
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A lot of commentators calling for the Euro to go into free fall in the comming weeks. Certainly there is enough bad news out there to give us great concern. Outcome of the French election and the Greek political situation. And Non farm payrolls on Friday. The world economy is in a bad state. 

Over the next few days we will see, if we get a break below 1.2950 we could be headed to 1.20 area. Certainly there is little reason to buy it.

On the S&P it is also likely to stay offered for some time. The outlook for the US economy is at best mixed. We are in for a period of instability on these markets. Announcements from Greece and France will be key.

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