By Chris Becker
Continuining falls in crude inventories, suggesting demand is slowly catching up plus renewed optimism over a deal on the Greek debt dilemma re-embiggened the animal spirits in risk markets overnight. European stocks particularly surged while US stocks lifted as bonds were sold off amid a weakening US dollar.
First, recapping Asia, the Shanghai Composite had another pause yesterday losing just a few points as it consolidates above the new 5000 point support level. In Japan, the Nikkei 225 fell 0.25% but came back in post-close futures trade in a correlated risk-on move even as Yen strengthens. The ATR support level at 20000 point level is holding, as is momentum for now:
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