By Chris Becker
The positive session in Asia yesterday did not translate to further gains on European or American markets as traders await the inflation report after Friday nights stonking NFP print. This sent US Treasuries higher with yields dropping while the USD recovered, stocks were mixed and commodities dropped, with futures suggesting a quiet session here locally. The economic calendar is focused on Australian home loan financial data in the main today before tomorrows Chinese trifecta reports.
Recapping stocks in Asia yesterday where the Shanghai Composite made good on its recent close above the important 3300 point level, lifting just over half a percent to 3325 points. This looks to be a solid breakout with the interim target at 3400 points as momentum builds on the daily chart:
