By Chris Becker
Friday night saw a relatively good end to a hectic week across risk markets with European stocks playing catchup while Wall Street lifted slightly, its optimism about economic life opening contained somewhat by the growing China/US trade dispute, nevermind the pandemic issues. Gold continued its significant breakout as all central banks seem hell bent on heading to negative rates while currencies were relatively calm, save for Pound Sterling which nosedived into a post Brexit yearly low.
Looking at share markets from Friday’s session where in mainland China, the Shanghai Composite put in a scratch session to finish the week out at 2868 points, while the Hang Seng Index also struggled, down 0.2% to close out a forgetful week at 23797 points, holding just above the recent daily lows as resistance proves too strong overhead. This level is pushing the market back down to its recent lows with the potential to break below daily support at 23200, but note that daily momentum remains positive but only just:
