IIFT Daily Note with Peter Brown

There is a lot going on.

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Friday’s NFP data was poor, no question but as always we recovered later on. The dynamic of low interest rates still dominates. Where else would you find a return whether as an investor or a hedge fund. We may trade sideways for a while but I will still buy on the dips. We are entering earnings season so we may fluctuate from one release to the next. Be careful of the bell weather stocks which show the strenght or weakness of the economy. These may have a deeper impact. Yahoo finance is a good website for seeing the upcomming releases.

On the Euro the outlook is more difficult. We are seeing buying which I find confusing. Some of it is related to JPY selling (you have to buy something). Overall I think the news out of Europe is negitive and I do not see much upside for the Euro.

USD/JPY is amazing 98.80 reached. Our 100 target is in sight. Buy all the dips. 100 should hold it for a while but when we breach that 105 will be in sight.

Levels today are   S&P 1556 1534 is the range, very wide, value is on the buy side on dips.

Euro 1.3040  1.3000 on the topside  support at 1.2960  1.2920 and major at 1.2880

USD JPY 98.80  99.00 top sides  98.00  97.80 support if we can get there.

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