IIFT Daily Note with Peter Brown

Real start to the year is here.

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Today we get the full market for the first time. Holidays are over and it is back to the serious stuff. Equity markets are high and the dollar is bid. So are we going up, down or sideways for the rest of January.

Starting today we have some PMI’S in Europe, plus German CPI. There are no bad news stories out there so any fall in stocks I will buy into. That is my strategy going into 2014. Buy on dips, I have no interest in selling the market. Any down moves should be shallow.

The dollar is doing well, Euro down to the 1.3570 support of old. Dollar strength should continue for a while but will be choppy. No real need for major corrections on FX at the moment.

Conditions today should be Choppy

Levels are Euro 1.3615  1.3570  1.3525   S&P (Mar) 1833  1820  Wall St (DFB) 16500  16400

 

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