By Chris Becker
With the Easter long weekend behind us, there’s a lot to absorb from what’s been going on risk markets in the break. The biggest headline is the 3% plus surge in crude oil prices on the back of a US bid to block Iranian exports, sending them to a six month high, while equity markets remained becalmed. The USD remains firm with Yen unchanged while the Australian dollar is still under a lot of pressure.
Looking first at the Asian session yesterday where Chinese stocks produced scratch sessions again with the Shanghai Composite slumping to close down 1.7% to 3270 points on concerns that Beijing is looking to cool economic growth. The Hang Seng Index was closed but futures are indicating a small retracement below heavy resistance at the 30,000 point barrier again:
