By Chris Becker
The Italian shocker was ignored by risk markets overnight as European traders returned to their desk over the weekend, with the Euro surging against USD and shares dragged higher on both sides of the Atlantic. The mood was helped along by a better than expected ISM services print in the US, showing continued strength in the US economy, with industrial metals rising and oil staying relatively firm as gold continued to selloff.
Looking at Asian stocks first, where the Shanghai Composite fell a little over 1% yesterday down to 3200 points, taking a breather in its bear market rally. The target of 3400 points remains in sight, but the trend channel needs to be watched closely for signs of wavering with support at 3140:
