By Chris Becker
Risk markets traded thinly overnight due to the closure of Wall Street for a holiday, although stocks on both sides of the Atlantic did inch up slightly. While the USD Index was unchanged, mainly due to a flat lining Euro, commodity currencies like the Aussie and Loonie slipped despite a small lift in oil prices and iron ore. Not much to watch on Asia markets today although the RBA will release their latest minutes and tea leaf reading.
Looking at Asian share markets yesterday where the Shanghai Composite had a very solid bounceback with a 2.2% gain, accelerating through the afternoon session to close just below the 3000 point level at 2983. Meanwhile the Hang Seng Index was up 0.5% to 27959 points. The recent break out above the high moving average on the daily chart continues its follow through here, but requires a break through firm resistance at the 28000 point level above, as momentum is still not yet positive::
