IIFT Daily Note with Peter Brown

Ukraine losing market impact.

Posted by:  |  Time: 7:45 am  |  Topic:  |  Comments: 1
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Given the inability of the West to affect the outcome in the Ukraine it would seem the Russians get there way. Whatever the moral or political impact the market is set to move on. We saw worries yesterday because there was a false rumour of an ultimatum to Ukrainian troops. It proved to be unfounded. Looks like the take over will be bloodless so the market is likely to move on. Yesterday saw a dramatic fall but a similarly dramatic rise.

Unless we get more dramatic news I think the market will stabilise and get back to focusing on economic fundamentals. No big news out today so expect a quieter trading session. As I have said tech. levels are impossibly on the indices, we need to settle for a few days. Bias is up today.

Conditions choppy levels are :-  S&P (MAR) 1865  1850 Wall St (DFB) 16400  16230  DAX (DFB) 9500 9415  Euro 1.3800  1.3700

One Comment

Terry Pierce

March 4, 2014

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Spot on call this morning Peter, market already discounting headlines from Ukraine and by the days reaction unless any major unfolds over the coming days things should stabilise.

EURUSD coming under increased pressure again this afternoon after a positive start to the day and as the week unfolds it might be the big loser this week with data out later in the week might signal USD strength.