By Chris Becker
Not the best start to Autumn here in the Southern Hemisphere – maybe there is a reason its called Fall? US stocks fell swiftly again overnight on the back of the opening salvo in Trump’s trade war with, well everyone, as bond markets and other safe havens rallied. Adding to the selloff, many European companies missed earnings targets, while USD reversed its course swiftly sending the majors up, particularly Yen.
Recapping action in Asia yesterday where Shanghai Composite was the standout, closing some 0.4% higher to 3273 points, but still below the important 3300 point level. The next obvious level for this recovery was former support, now key resistance at 3400 points, but with momentum still in bearish territory, the 3300 point level maybe all she’s got Captain:
