IIFT Daily Note with Peter Brown

The bounce came eventually!

Posted by:  |  Time: 7:48 am  |  Topic:
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Difficult market on Friday. We expected a bounce but it was difficult as the market tested the lows before eventually bouncing late afternoon. 1340 was the floor and is now support. Topside is tricky  1368  than 1381. We have to see the mood this morning to guage whether we can sustain this rally. Greece is on the agenda and of course the Fiscal Cliff. The good mood will not last long.

Euro  1.2690  1.2800

Wait for the mood before trading. Could be quiet, no big news expected.

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