By Chris Becker
The bullish Asian session translated into a mild meltup last night on Wall Street with yet another Janet Yellen testimony – this time in the US Senate – to decipher. Treasuries sold off as she mentioned continued stimulus was necessary, while the US moderated against most currencies, but sold off against Aussie and the Loonie especially.
Yesterday in mainland China the Shanghai Composite closed up 0.4% to take back its previous losses and be back above resistance at 3200 points. The daily trend is still firm as momentum stalls here, but the upside target is quite limited at 3300:
