By Chris Becker
A return to risk overnight with US stocks rebounding as the USD also took back gains following the reversal from the FOMC meeting fallout. European stocks were less sanguine with only the FTSE rising as Theresa May headed to Brussels once more while the BOE held fast on interest rates.
Looking first at the Asian session yesterday, where Chinese stocks were mixed as the Shanghai Composite advanced, while the Hong Kong Hang Seng Index fell to close down 0.3% to 29071 points, still maintaining a position above last week’s breakout above 29000 points, but only barely. I suggested this was only a reversion to mean play as part of the broader uptrend, which is true if the low moving average level can hold here to finish the week:
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