By Chris Becker
Risk is wobbling as the oil crash combined with weaker than expected Chinese industrial production is shooting down confidence fairies around the globe. Friday night was not quite a bath of blood on equity markets, but key technical levels have been taken out on the S&P500 and European bourses (especially the FTSE) with the VIX zooming ahead in its biggest rally in nearly 5 years (almost doubling).
Meanwhile gold is shaking the dust off its shoulders, or more appropriately, the USD through the major pairs, is not reacting much at all to these new ructions.