By Chris Becker
Reports of a potential Brexit deal, plus solid earnings by Apple overnight saw the risk sentiment shift higher, with the USD the main casualty. All the major currencies surged against King Dollar, particularly Aussie, while oil prices fell by nearly 2% on rising supply pressures. It looks like another risk positive day here in Asia to finish out the week, although Japanese stocks may find a headwind with a much stronger Yen.
Recapping Asia’s session yesterday where the Shanghai Composite moved higher throughout the session, up over 1% before slipping going into the close to finish up only a handful of points to 2607, still maintaining itself above key support at the 2600 level. The daily chart clearly shows how it needs to get back and remain above that level to forestall a wider selloff:
