By Chris Becker
Friday night saw US stock markets rise on the back of strong bank earnings to a new six month high. US Treasury yields rose past the 2.5% barrier again while the USD fell against everything but Yen, confirming the risk on mood.
Looking first at the Asian session on Friday which saw the Shanghai Composite close with a scratch session, finishing the week just below 3200 points, while the Hang Seng Index has continued its small dip, down 0.3% to 29740 points, still unable to get back to its recent steady state of daily highs above the 30,000 point level. This is likely to change today with price bunching up against resistance on the daily chart, ready to breakout and with other risk markets aligned:
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