IIFT Daily Note with Peter Brown

Situation in Ukraine is fluid.

Posted by:  |  Time: 7:49 am  |  Topic:
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The big talking point in the market is the Ukraine. The market sold off heavily on worries yesterday and rallied hard on news of Russian appeasement. This morning we have stories of airport occupation. This situation is fluid and will bring volatility to the market. The movement is very volatile and is making it very difficult to fine support and resistance levels. Allied to that we have CPI out today in Europe and GDP in the US.

Euro is CPI sensitive and falls i the numbers will bring up stimulus stories and therefore weaken the Euro. Stocks are going to fall and rise on developments in the Ukraine. This is trade is news and rumour based and the best tactic is just to go with the sentiment.

Trading to day will be choppy again. Here are the levels not very defined I ma afraid.

Euro 1.3770  1.3650  S&P (MAR) 1856  1845  Wall St (DFB) 16300 16230 DAX (DFB) 9630 9545  If there is big news from the Ukraine these levels will break.

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