IIFT Daily Note with Peter Brown

QE3-cash for free

Posted by:  |  Time: 7:58 am  |  Topic:
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Effectively thats the deal. The FED minutes hinted at more QE if the economy does not improve dramatically. QE means lovely cash to go out and buy equities and commodities. In reality it is supposed to feed into the economy to the SME sector to promote growth but that won’t happen. So are we on a shopping spree?  Well if the ECB  row in with agressive bond buying we could be.

We have some serious events comming up. Jackson Hole, EZ finance ministers meeting. ECB meeting on the 6th September and ESM ruling in Germany on 12th.

It could be a massive bull run to Christmas or not.

So to prices  1.2485 is now support on the Euro 1.2565 early resistance

1424 topside to the S&P 1412 and 1404 support.

Gold is the big benefactor support is now at 1635/45   tarket 1685/1700

Expect a little profit take this morning and then back up.

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