Macro Morning

Advertisement

By Chris Becker

After yesterday’s mixed session in Asia, equity markets tracked sideways for most of their respective sessions on both sides of the Atlantic overnight, with US stocks finally eking out a fifth in the row positive result. The USD rose against most of the majors, reversing its earlier week trend, although the Aussie remains surprisingly resilient.

Recapping Asia’s session yesterday first where mainland Chinese stocks faltered, the Hang Seng Index eventually closed in the green, closing 0.2% higher to 26522 points. This modest return comes after a large turnaround mid week and almost bests the tentative resistance zone here at the 26500 to 27000 point area with momentum well behind:

Advertisement

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe