By Chris Becker
Caution reigned on risk markets overnight with the ECB meeting taking a dovish turn while currencies were largely unchanged alongside the other barometer, US Treasury yields although the 10 year remains under the previous “magical” 3% level. Commodity prices fell slightly, with the Aussie dollar also slipping alongside Kiwi.
Recapping Asia’s session yesterday where the Shanghai Composite is playing catchup after a couple of uneventful session, closing 1.2% higher to 2634 points, finally back above the previous support level at 2600 points. The daily chart is still moving sideways however with price gravitating around the orange support line just above 2600 points with no signs of a breakout yet:
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