IIFT Daily Note with Peter Brown

Ukraine back on the agenda.

Posted by:  |  Time: 7:36 am  |  Topic:
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The correction is continuing but the situation in Ukraine is accelerating the moves. Over the weekend we have escalated and we are now looking at ultimatums, which is worrying. This is a fluid event and we have to be careful as news from that arear could effect the market at any time.

Elsewhere Mario Draghi is trying to talk down the Euro. Sorry but the only way to get the Euro lower is a stimulus package. Mario at the moment is all talk and little action.

Today technical levels will be difficult because moves are too large. This is a mood trade. This morning we are quite low and might bounce. But given how serious Ukraine is there may be little appetite for that trade. market may go straight down. DAX will be the pointer.

Today will be choppy/hurricane

Levels are :- S&P (JUN) 1817  1795  Wall St (DFB) 16100  15975  DAX (DFB) 9260  9160  Euro 1.3900  1.3800  Gold 1343  1324

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