By Chris Becker
While the Fed left everything alone last night, jitters from the commodity complex as copper, nickel and oil plunged coupled with the poor showing by Apple sent stocks down or at mixed levels on both sides of the Atlantic. The USD soared on the Feds steady as she goes policy, hurting commodities, includingthe Aussie dollar proxy which fell to a new low.
Yesterday in China, the Shanghai Composite closed down nearly 0.3% to 3135 points, barely holding above the level of crucial support at 3100. I’m still expecting a small bounce here on intervention but am prepared for a breakdown below support:
