By Chris Becker
US stock markets followed the positive mood generated in Asia then enhanced in Europe, with the S&P500 again hitting another record high as the release of the latest FOMC minutes gave a “steady as she goes” signal. The deceleration in new cases of coronaviruses on top of continued stimulus plans announced from China helped buoy risk spirits. Gold and oil prices shot out of the gate while the USD firmed against the remaining major undollar assets.
Looking at Asian share markets yesterday where the Shanghai Composite was up 0.3% after its long lunch break but stumbled at the close to finish 0.3% lower to 2975 points, unable to cross over the 3000 point barrier while the Hang Seng Index closed 0.4% higher to 27655 points as it holds on to short term support. With the increased risk action, price should break out here soon, hopefully to the upside above the 27700 area:
