By Chris Becker
A pause a stall or a breakdown occurred on stock markets overnight – except the NASDAQ – with all major markets retreating slightly as probability finally caught up to the blowout trends. The USD was sold off once more, while Treasuries rallied leading up to tonights FOMC meeting as yields dropped back near to their record lows. Iron ore also finally pulled back while gold finally had a decent session, returning above the $1700USD per ounce level.
Looking at share markets in Asia from yesterday’s session where the Shanghai Composite continued its solid start to the week with a solid session, finishing 0.6% higher to 2956 points, while the Hang Seng Index rejoined the risk frenzy, lifting 1.1% to 25057 points. Price is moving away from the previous sideways highs from April as this breakout gains momentum but its still playing catchup to other equity markets:
