By Chris Becker
The punchbowl tasted sour on Friday night with retreats across US and European stocks as markets re-assessed a post BOJ and Fed “easy” period amid falling oil prices. The Saudis are usual were the party poopers for crude, dismissing suggestions of any production freezes as their barbaric kingdom runs out of money as the USD firmed against some of the majors, namely Yen and Aussie dollar. It will be a slow start to the week here in Asia as a result of these mixed leads.
As usual for Monday mornings, I’ll take a step back and look at longer term charts for a bigger picture.