IIFT Daily Note with Peter Brown

Non Farm payrolls

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5 October 2012

Big day today. Yesterday the S&P was pretty quiet while the Euro and Gold had a strong upday. Conditions are good for gold however it needs a correction at some stage so be carefull. Otherwise we still target 1900/2000 for year end.

Euro put in a strong rally after Draghi’s conference, a bit confusing considering Spain are dragging there feet on the bailout. Not convinced this rally will last.

Today is all about Non Fram payrolls. We had a low figure last time 96k. So expectations are low at 113k for this month. Therefore the risk will be to the topside.

A figure at or below 95k is a sell  above 125k is a buy. No trade if we come in between those. Remember half a  stake size at the figure and then a chance to enter the balance if the market continues in the direction of the figures.

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