by Chris Becker
April’s durable goods order came in strong last night, but US markets and the USD were not impressed with the internals, with all eyes now on tonights GDP print and probably equally what Fed Chair Janet Yellen has to say. Commodities were mixed too with oil particularly unable to make any further gains after its recent stellar rise. Its a long weekend for US and British traders, with the latter getting particularly nervous on the upcoming “Brexit” vote.
Recapping Asia first where the Shanghai Composite continues to do nothing, taking back the previous session losses, but only up 0.2% and remaining just above support at 2800 points. I’m still watching the previous intraweek low for a breakdown here with my target the former low at 2600 points as there seems to be no confidence on the upside:
