By Chris Becker
Not a good night on risk markets with Trump again looking to put another round of tariffs on China, plus the USD belting the emerging market currencies around. At least economic data was on point, with German unemployment and inflation figures depressed as expected. Bond yields across the curve fell while the Kiwi continued its nosedive, dragging the Aussie dollar with it.
Recapping Asia’s session yesterday with Chinese stocks first, where the Shanghai Composite turned its recent slip into a selloff, closing 1% lower to 2739 points as it continues to reject overhead resistance at the 2800 point level. Momentum was slowly swinging back to the positive with the Yuan appreciation helping, but significant resistance at 2800 points is presaging another downturn here:
