By Chris Becker
Economic catalysts on risk markets last week were characterised by a shift in the ECB asset buying program, the Trump trade war and finally, the US unemployment print on Friday night. The last will set a very positive mood this week, as the stonking figures overshadow the new tariffs and concerns over domestic fiscal policy, while the ECB change saw Euro fall and give some relief to beleagured European stock markets.
Looking at Asian stocks first, the Shanghai Composite finally broke through the 3300 point barrier on Friday after showing a lot of hesitation around that level. The upside target here is pretty clear when looking at the weekly chart, getting back to the previous high at 3600 as support above 3000 is very solid:
