By Chris Becker
Risk is mixed to say the least with weak leads from Asia translated into a bullish mood in Europe, helped along by solid service PMI prints and retail sales growth, but then slammed again in the US session even as the non-manufacturing ISM surprised to the upside. Even the oil markets were confused with WTI up but Brent down.
In Asia yesterday the only bourse printing positively was the bubble-ish Shanghai Composite, up 0.5% while the rest of Asia was down 1% or so including the ASX200 and Nikkei 225. Both are providing nice entries for the brave shorts out there as they rollover from their tops, as positive momentum recedes, but I would contend its a high risk proposition leading into tonights ECB announcements and tomorrow nights US NFP.