By Chris Becker
The USD surged overnight bringing US and European stocks along for the ride as initial weekly jobless claims undershot significantly alongside some strong earnings. In Europe the script of good earnings and subsiding political risks (and no Tweets from the Twit-in-Chief – just another promise of tax cuts) was followed even as Greek bond yields spiked higher than 10% again.
It to Asia’s session yesterday, where the Shanghai Composite firmed throughout the day, closing 0.5% higher to 3183 points. Support at 3100 points remains solid, with positive momentum the potential for a breakout is increasing as we approach the end of 2016 daily highs:
