By Chris Becker
A mixed night on risk markets with the positive sentiment fading goign into the weekend, as no news on a US/China trade deal is construed as bad news. Wall Street ended with a scratch session while European bourses retreated slightly in the wake of flagging retail sales numbers. The USD was weaker against most of the currencies as Pound Sterling spiked again, while oil prices pared back some of their recent gains. Tonight’s NFP print will set the tone for the rest of the short trading month.
Looking at the action on Asian markets yesterday where the Shanghai Composite lifted 0.7% and closed just one point shy of the 2900 point level again as it builds up momentum. The Hang Seng Index staved off another breakdown, closing 0.6% higher to 26217 points with the daily chart still looking bearish as price is unable to get back above the low moving average at the 26400 points level. While momentum remains quite oversold, it’s still in the zone for further falls:
