By Chris Becker
Wall Street pulled back slightly overnight with a mixed Europe also weighing on positive sentiment as retail data disappointed and UK CPI came in lower than expected. Lack of news on a looming Brexit deal kept the continental currencies elevated slightly, while the US retail sales print saw USD flop, spiking Aussie dollar and giving gold a little more hope.
Looking at the action on Asian markets yesterday, where the Shanghai Composite spiked on the open but couldn’t hold the gains after the long lunch break, closing 0.4% lower to 2978 points while the Hang Seng Index went the other way and has gained over 0.6% to 26668 points and looking to make another attempt at cracking resistance at 27000 points Momentum is gaining here above the positive level, so I’m watching the high moving average as local support for a possible breakout:
