Recent IIFT News About ‘Macro Views’
The Egypt situation has certainly prompted a rethink in direction across the board.
Dow well off the 12,000 tarket , and Euro looking vunerable. Gold to the upside.
We will see over the next few days how this all pans out.
In the meantime, Euro holding below pivot and 100 ma on 15 min chart. at 1.3638
Failure to get above there could mean a down day.
A lot of work behind the scenes on the Euro debt situation. Be carefull of news comming from that area.
Still in jobbing mode for a while yet. Don’t forget the straddle trade.
Little effect on the market this morning from the Irish Polictical meltdown. Euro very quiet. However reaching levels where most commentators want to short. Nothing on the charts. US equity markets continue their march forward.Dow getting close to 12,000, think that will be reached easily enough. Gold still confusing. This is a dead market for us traders. Got to wait for some direction.
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This could be a split decision! In the absence of any negative news and that will only come on the stress testing of the banks, we could see the Euro reach 1.40.
The picture in Europe has’nt changed and nothing has been fixed. However support from China has bolstered the Euro and the market has been caught strategically short.
So don’t be surprised to see this squeez continue. The shorts will only get back in controll on bad news, which is likely to come from nervousness on the bank stress testing. That could be weeks away, so in the meantime be carefull.
Quiet day yesterday due to the US bank holiday. Us equity markets still supported by QE2 funds.
On the exchanges, Euro slightly firmer on Russian story re Spanish bonds.
Aud Usd making good head way and cable firmer.
Macro view remains the same, however were are in a range at mom so tight trading.
Welcome to our new website and marketblog. Took some time to get up and running this morning.
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Crisis over, up up and away!!!
I jest of course tho’ ‘managed markets’ do go higher. At the moment everthing is underpinned by Fed’s safety net and Merkel’s embrace.
For longer term punter the right, guaranteed, 9% Irish Gov bond is an absolute must. While yields can go higher this is a sweet investment methinks.
To the Fed’s concern on DEFLATION, just a short economics 101 if you will bear with me : It is a scourge, it puts a complete halt to Commerce if goods and services are perceived to likely be cheaper in the future.
Markets are tricky today but look for return of ‘risk’ trade with Stocks higher and Euro Oil Gold etc following suit. Don’t forget PB’s risk management tho’ cos short term trend could be lower but does 3 days a trend make?
Colin D Gregan