By Chris Becker
Wall Street moderated its falls from Friday night as the latest ISM manufacturing print surprised to the upside, with bond yields lifting. Commodities however remain depressed with oil prices heading lower once more, alongside industrial metals and even gold, which had seem some benefit recently from the safe haven trade. Currency markets are still volatile with USD surging on the ISM print, but the Aussie dollar remains poised going into this afternoon’s RBA print.
Looking at Asian share markets performance yesterday where the Shanghai Composite finally returned, and in epic style, selling off nearly 8% or 200 points lower to 2746 points! The Hang Seng Index was the only market in the region with a positive result., but only just – up 0.17% to 26356 points, still keeping prices somewhere near the December level. Chinese markets are exhibiting the largest volatility levels and a break below the 26000 point level could see this rout gather pace:
