By Chris Becker
Another mixed night in risk markets with the Dow putting in a record high, but not the broader bourses with industrials stocks dragged down again as USD strength continues to weigh. In currency land, the Aussie dollar continued to fall post RBA meeting, while Pound Sterling and Kiwi also fell against King Dollar. Surprisingly, gold found a bid and pushed above $1200 for the first time in over a week while oil prices moderated on an unexpected inventory build report.
Recapping Asia’s session yesterday where the Shanghai Composite was closed again. The market finished Friday above 2800 points, building confidence as the stability in Yuan continues. Momentum is now firmly positive, suggesting this bounce could get to 2900 points swiftly, but the fall in the Hang Seng yesterday is likely to be repeated on the open today:
