By Chris Becker
Volatility was the name of the game overnight on risk markets with European bourses rebounding while US markets exchanged gains for losses although the broader S&P500 finished with a scratch session. I think all traders are ready for a Christmas break because the culmination of Trump’s trade war, Brexit and other geopolitical dramas is getting a bit much! Treasury yields were all the place as well, with currency markets providing the clearest breaks as Pound Sterling and Euro flopped against USD.
Recapping Asia’s session yesterday where the Shanghai Composite closed about 0.3% higher to 2594 points, hanging on but still unable to get back above the previous support level at 2600 points. The daily chart is still moving sideways, unable to get back above 2600 points and sealing in this bear market:
