By Chris Becker
A breakout in risk assets was thwarted overnight as Mario Draghi poured cold water on the ideas the ECB extending its stimulus program while his tight lips were contrasted by the final presidential debate turd flinging amid flailing earnings reports from US stocks. The result is muted in stocks, with momentum sucked out, while the USD soared higher against the majors, oil prices meandered as more players in the upcoming OPEC negotiations muddy the waters with innuendo about production freezes, cuts or hell, raises!
Looking at Asian stocks first yesterday, where after shooting out of the gate previously, the Shanghai Composite had a scratch session to finish at 3084 points just above the closely watched 200 day moving average. My target remains the former high at 3140, not far away:
