by Chris Becker
Another relatively quiet night on the markets with no major economic prints save the Awesome Analysts at Martin Place as the RBA held and the Aussie dollar shot up as a result. US and European stocks continued their reflation trade higher, dragging down bond yields while commodities were mixed as gold fell even further and oil rebounded on speculation of increasing crude demand domestically in the US.
Recapping Asia’s session where the Shanghai Composite followed its 2% fall with a modest session yesterday, falilng a few points as it maintains resistance at the 3400 point level. Without a significant breakout soon, its on its way back to 3000 points.