By Chris Becker
The magic continues as China cuts rates and stocks soar on the short term euphoria, following the ECB waving of wands and casting a spell on risk markets. US stocks have now lifted four weeks in a row even as the USD rises against, well everything as the Euro, commodities and everything else tumbles.
Recapping Asia’s Friday where the Shanghai Composite has broken free of its 3400 point resistance barrier with a 1.3% rally after lunch to 3412 points. A follow through today on the back of the interest rate and reserve rate cuts will see a rally right back up to 4000 points:
