By Chris Becker
Risk sentiment was basically unchanged overnight with all eyes on the continued Brexit vote and re-negotiations with Pound Sterling dropping while other currencies remained stable. The leadup to the FOMC meeting is keeping caution at bay with the latest consumer confidence numbers also showing the effects of Trump’s government shutdown.
Looking at the Asian session yesterday first, the Hang Seng Index was weak, down 0.1% to 27539 points, but still maintaining a daily close above the previous false break high above 27100 points which should give the bulls hope. The daily chart shows how important it is for the market to remain above this level, so I’m watching for a close below the high daily moving average as a sign this rally has run out of puff:
