IIFT Daily Note with Peter Brown

Ukraine being totally ignored.

Posted by:  |  Time: 7:33 am  |  Topic:
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Firstly Friday’s NFP. while a good headline figure the participation rate was the factor that disappointed. So the initial rise was followed by a sell off. This is the nature of the NFP, there is so many elements to it that mostly it confuses. I thought we would get a clean figure but not to be.

Ukraine is slowly turning into a new Syria. Big problem but given the fact that Europe and indeed the US are powerless to do anything about it, the market is choosing to ignore the problem. Stock markets are holding in well. Today we have a lot of figures in Europe, PMI’s and retail sales also chain store sales in the US.

Markets are in a range despite some of the big moves. Essentially markets are returning back to the same levels time and time again. Little in the way of macro views at present.

Conditions today are Choppy.

Levels are:-  S&P (JUN) 1885  1873 Wall St (DFB) 16600  16480 Dax (DFB) 9645 9500 Euro 1.3900  1.3850  Gold 1315  1302

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