By Chris Becker
The Fed holds, talks up risk, talks up the economy and the USD falls while Treasuries rise and stocks go nowhere in a session denoted by breakouts in gold, Euro and Pound, while oil sold off as stockpiles unexpectedly moved higher. European stocks moved higher in response to an upbeat GDP print in the UK, and combined this will give Asian stocks a boost this morning, particularly the ASX200.
Recapping Asia first where the Shanghai Composite reversed decisiviely after its lunch session, falling nearly 2% and closing below critical support at 3000 points. Having rejected the overhead 200 day moving average, this breakdown below support presages further falls all the way down to 2800 points, the next area of support:
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