By Chris Becker
The ECBs confused decision on its asset purchasing program – a taper that is not a taper, more a tweak with a lifting of the deposit rate – sent the Euro into a tail dive against USD, dragging bond yields down with it. But stocks loved it, with no surprises and expectations of continued QE filled, so markets on both sides of the Atlantic rallied. This dragged up oil prices a little, while other currencies fell alongside Euro against USD.
Yesterday in Asia, the Shanghai Composite slipped 0.2% but remained above 3200 points. Local support there plus previous resistance t at 3140 points remains firm, but consolidation seems to be the call for now:
