By Chris Becker
The latest Fed minutes were released overnight and the official line of “waiting for inflation” is yet to be believed, so the USD sold off considerably against all the majors, given the Aussie dollar a reprieve. Going into the Thanksgiving holiday, stocks were relatively steady in the US and somewhat in Europe, except in Germany as stocks sold off as Merkel’s folly continued to unfold.
Recapping Asia yesterday first where in mainland China the Shanghai Composite continues its breakout above 3400 points, surging 0.6% to be at 3430 points at the close. This is a market oscillating but still in and uptrend, but I’d keep an eye on 3300 points for the medium term support level:
