by Chris Becker
Chinese stocks lead the way in Asia and throughout the world, absorbing the Brexit drama with nary a worry, up another 0.5% today as the ASX also clawed higher, as did gold and oil as “buy” buttons continue to be pushed across the risk complex. The positive lead overnight from Europe is a relief rally that could fizzle if talkfests in Brussels turn negative again towards the divorce. Bond yields continue to fall as they remain the true safe haven.
Meanwhile the so-called safe haven, the Australian dollar, keeps falling against the USD and Yen, although remains steady against the Euro and Pound Sterling going into the London open. There is a potential breakout here at hourly ATR resistance just above the 74 handle, but this has been rejected twice already:
