By Chris Becker
Last night saw the USD surge higher and oil slump lower, both acting as catalysts to pull US stocks lower and hence, the whole risk complex. While a steady/scratchy session in Asia turned into some minor gains in Europe, futures are now in line with the falling US markets so expect red on the screens today. Metals and other commodities fell, with gold slipping further to support as interest rate futures rise on speculation the Fed may hike sooner rather than later.
Recapping Asia first where the Shanghai Composite had another weak session, barely closing in the green zone and still above 3000 points. The 200 day moving average remains an impasse and I think a reversal below 3000 points is imminent: