By Chris Becker
Trump manipulated the USD down by saying it was too strong, lifting gold and other safe haven assets pushing US stocks down as earnings season gets in full swing. The administration’s failure to push a strong Reagan like fiscal agenda (read: we don’t like big government, so we’re going to expand the government huugely) combined with continued geopolitical tension is starting to weigh on all risk markets.
Yesterday in China, the Shanghai Composite closed down 0.3% to 3276 points as it tries again to beat overhead resistance at 3300 points but is knocked back late in the session. The daily chart clearly shows that a breakthrough above that level should see an explosion upwards:
