IIFT Daily Note with Peter Brown

Quiet ahead of ECB and Payrolls.

Posted by:  |  Time: 7:47 am  |  Topic:
Trading Is At Your Own Risk - Read Our Terms & Conditions

Market is in standby mode ahead of two major events later in the week. Thursday is the ECB, I doubt if we will get a rate cut but we may get some dovish talk. Euro is in a hold pattern ahead of the press conference. Friday is Non Farm payrolls. The equity markets are still well supported, failing to make new highs but unlikely to fall much. Trading is about buying the dips or selling the rallies each day. Euro trading is sidelined with a few points available each day for the jobbers. This should last until Thursday.

I will outline Euro strategy ahead of the ECB meeting on Thursday morning.

Levels today are : S&P (DEC) 1772  1756   Wall St DFB  15670  15590  Euro  1.3525  1.3490  1.3460

Comments are closed.