By Chris Becker
Stocks jumped higher in Europe before moderating overnight as tensions remain high over Trump’s trade war as European regulators continued to weigh up their options. Wall Street gained as well but the USD continued to flake sending majors like the Aussie up higher while Treasuries were steady, European sovereign bonds sold off slightly in the wake of the Italian elections.
Recapping action in Asia yesterday where the Shanghai Composite finally put some runs on the board, gaining 1% to close at 3289 points, just shy of key resistance at the 3300 point level. This is looking promising but we’ve already had one false breakout above resistance so I’m cautious until momentum is positive on the daily chart:
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