By Chris Becker
US stocks are hitting record highs again overnight helped by surging oil prices as Iran and Iraq make noises about a potential OPEC deal on a supply cut next week. The USD came back a bit against the majors, with Pound Sterling surging, and Euro lifting as news that Angela Merkel will run for office again. Economic news is light on the ground at the moment, so risk markets are reacting to anything!
Looking at Asian stocks first, where the Shanghai Composite had another solid session, up 0.8% to 3218 points. My next target at 3400 points is still in sight, but a pullback to previous resistance, now support to 3140 or so would be normal:
