By Chris Becker
The trading week had a better start in the northern hemisphere with US markets gaining on the back of tech and bank stocks, while Europe tread water. The USD made a comeback versus the majors, particularly against the Aussie and combined this should make for a solid lead for local stocks today.
Recapping Asia’s session yesterday where the Shanghai Composite was the standout yesterday, up over 1% to build on its Friday solid move higher, closing at 2858 points as it solidifies this move back above former support at 2800 points, suggesting a bottom may now be in place. There is potential upside here back to 3000 points if the PBOC can support the market:
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