By Chris Becker
A double whammy of energy and tech stocks retreating on Wall Street overnight as the USD surged on more hawkish comments from the Fed. Not helping is a widening political scandal in the US that is likely at best to delay the Trump’s administration plan to rollout the infrastructure gravy train, thus putting less pressure on an already anemic inflation print. In Europe, the SNB and BOE left policy settings alone with Pound Sterling moving slightly higher.
In Asia yesterday first, the Shanghai Composite is stable going into the close at 3132 points, still clinging above key support at the 3100 point level. There is some obvious resistance here at the 3150 level that needs to be cleared:
