By Chris Becker
The latest US CPI data and somber (i.e realistic) testimony from Dr Fauci about the coronavirus in the US put a big dampener on risk taking overnight with US stocks falling 2% across the board. The USD fell against the major currencies, while commodity currencies like Aussie and Loonie went the other way as oil and industrial metals fell back.
Looking at share markets from yesterday where in mainland China, the Shanghai Composite finished a handful of points lower to close at 2891, while the Hang Seng Index slumped 1.5% to 24245 points, taking back its start of week gains and forestalling a chance of a breakout. As I noted previously, there’s still considerable resistance at 24800 points to clear as the market goes back to a sideways bent:
