By Chris Becker
The Bank of England quashed any concerns about inflation in the mother country overnight in its monthly interest rate meeting as German factory orders surprised to the upside. This helped the FTSE and continental bourses lift slightly but disappointing earnings in the US dragged the S&P500 down as oil continues its collapse to previous lows. The bond markets were a quiet with bids across the board on a run to safety.
Recapping Asia’s session, where the Shanghai Composite fell another 1% to 3666 points, and looking like finishing the week solidly below the 200 day moving average. We continue to watch the long term support at 3500 points as continued government intervention remains as effective at the Aussie cricketing team:
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