IIFT Daily Note with Peter Brown

Nothing from Ben, now for Draghi

Posted by:  |  Time: 6:41 am  |  Topic:
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Jackson Hole was a non event on Friday. We got what we expected, QE3 if necessary. Friday’s non farm payroll will be extremely important.

In the meantime Draghi takes center stage on Thursday. We may get a rate cut which will sink the Euro and we are expecting details on a bond buying programme, which I thing he will kick to touch untill after the German ruling on Sept 12th.

Therefore we expect a range trading week up untill Thursday. 1.2620  1.2485  for the Euro.

1396  1412 on the S&P

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