IIFT Daily Note with Peter Brown

Non Farm Payrolls and French elections.

Posted by:  |  Time: 7:05 am  |  Topic:
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Normally we would have the effect of the Non farm lasting through the weekend and into Monday. Today will be different because the outcome of the French elections will have a big impact on the market Sunday night.

Firstly the Non farm. We need to be above 200k to have any sort of a good reaction. 225k even to get a serious rally. The market is not in good mood as seen by the sell off last night. below 175k is bad even though expectations are around that figure. A figure like last month,low 100k, will be disastrous. S&P should enter in around 1390 provided we don’t get a bad European morning.

On Europe the situation just keeps getting worse. The french election is important and Hollande’s comments after. Spanias Ibex also important to watch. All in all it will be an exiting day. Danger is definately to the downside. With theNon Farm we need to see the number before we trade.

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