By Chris Becker
There were no surprises on the manufacturing/services PMI prints overnight, although German manufacturing did better than expected which was possibly behind the resurgence in European stocks, but it was a lack of other catlaysts – and tweets from Trump – that staved off volatility. US earnings also helped but the NASDAQ closed with a small loss while commodities finished slightly higher from depressed levels. Bitcoin is starting to look interesting again as well!
Recapping Asia’s session yesterday where the Shanghai Composite built on its recent breakout, rising 1.6% to 2905 points as it more than solidifies this move back above former support at 2800 points. There is potential upside here back to 3000 points but this is dangerous territory amid a bear market phase:
