By Chris Becker
European stocks were subdued overnight in immediate response to the late session slowdown here in Asia, while US markets got a bit more confidence towards the end of the session with speculation Trump is contemplating auto tariffs. Pound Sterling jumped as the UK government announced the next vote on the Brexit deal on the 29th January while the USD firmed against the other majors.
Looking at Chinese stocks first from yesterday, where the Hang Seng Index fell nearly 0.6% to 26748 points, although this hasn’t made a new daily low as the daily chart still shows a lot of internal strength here. Note how price continues to cluster well above the high moving average and is building for a more sustained breakout above resistance at 27000 points:
