By Chris Becker
As we head into the final trading weeks of the year its more a case of violence and badwill to all men moving markets rather than Christmas cheer. US stocks managed to push higher while European bourses struggled as volume starts to taper off, as correlations start to break down between USD and other non-dollar assets like gold, while bonds were bid across the board on the safe haven trade.
Yesterday in Asia, the Shanghai Composite remained below key support at 3140 points slipping a little further, down 0.2% to 3118 on the back of the Yuan and bond rout. As I said previously, this now clears the way down to the next level at 3000:
