By Chris Becker
Risk markets are trying to make new record highs again but the slightly softer than expected CPI print in the US overnight shook up the complex, with mixed results on Wall Street and scratch sessions across the European continent. Currency markets were generally contained with the majors not moving much while Pound Sterling lifted and the Australian dollar kept at bay.
Looking at Asian share markets yesterday, where Chinese stocks absorbed the big rise in Yuan with the Shanghai Composite slipping going into the close to finish nearly 0.3% lower to 3106 points. Meanwhile the Hang Seng Index did a similar retracement, falling 0.3% to close at 28862 points. The daily chart shows price action was getting a little ahead of itself by remaining well above the high moving average so a retracement is welcomed as momentum gets ahead of itself:
