By Chris Becker
Stronger than expected US non-farm payrolls (employment) numbers on Friday night buoyed stocks across both sides of the Atlantic, while the USD firmed alongside bonds with Treasury yields falling across the curve. PM May asked for an extension to the Brexit debacle while backroom shenanigans keep Pound Sterling volatile and Asia-based traders up all night. Again.
Looking first at the Asian session on Friday, where Chinese markets were closed due to a holiday. The daily chart of the Hong Kong Hang Seng Index implies that 30000 points will be breached this week with a strong rally still at hand, although momentum is in an extremely overbought position. A small dip on mean reversion down to support at 29500 or so would not be unexpected:
