By Chris Becker
Risk markets remained in a holding pattern overnight with US stocks largely unchanged as Treasury yields and USD moved lower, with Fed Chair Powell’s testimony to Senate restating the Reserve’s desire to keep rates on hold. The possibility of a Brexit delay sent Pound Sterling zooming, lifting Euro in sympathy.
Looking first at the action on the Asian session yesterday, the Hong Kong Hang Seng Index is doing the same, off by about 0.7% and closing at 28772 points. The current rally remains intact , with no new close below the high moving average or the trendline on the daily chart, with the target still 30,000 points, but watch that trendline carefully:
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