IIFT Daily Note with Peter Brown

Ukraine still the story.

Posted by:  |  Time: 7:20 am  |  Topic:  |  Comments: 2
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As I said last week the market is undervaluing this story. Friday we thought the situation was stable but over the weekend we have escalated. We need to keep on top of the story as it will drive the equity markets.

Elsewhere today we have PMI in Europe. So the market is going to be Choppy/Hurricane

Equities will rise and fall on news so be careful.

Levels today are  Euro 1.3800  1.3700  S&P (MAR) 1856  1836  Wall St (DFB) 16300  16100  Dax (DFB) 9600  9480

Levels are wide , sentiment is more important than technical analysis in this situation.

2 Comments

David

March 3, 2014

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Hi Peter
How should the Euro react to any news, trying to figure out if this will move it up or down?
Thanks

Peter Brown

March 3, 2014

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Hi Dave,

It should be negative but there is a lot of support for Euro from the bond markets. 1.3800/35 is a good top. Dax as we can see is taking the Ukraine news very badly but so far the Euro is stable. Do not expect a major down move as it would have happened already.
If it starts to go you may jump in but at present there is no trade there

Peter