By Chris Becker
A reversal in confidence overnight as trade deals and tech stocks give risk markets a lift, as the USD gained against the main currencies, particularly Euro. In Europe, German unemployment came in as expected while CPI for the EZ was a little higher than normal, boosting stock prices on the continent while oil prices were hit hard, falling nearly 2% with a surprising private inventory build report that went against the recent DOE release.
Recapping Asia’s session yesterday where the Shanghai Composite finished 7 points or 0.2% higher to 2876 after a listless session, remaining below recent resistance at 2900 points and unable to gain traction. While there is potential upside here to 3000 points this still remains dangerous territory amid a bear market phase with an equal potential for a reversal as momentum wanes:
