Wall Street continued to fall back alongside the USD after Fed Chair Powell’s testimony failed to ignite the risk spirits, while the latest UK inflation print saw Pound Sterling lift higher. European markets continued their own retracement with Asian stocks most likely to continue to fall back as confidence wanes.
US bond markets were little changed despite Powell’s comments as oil prices bounced back from their recent funk as Brent crude lifted straight through the $76USD per barrel level to regain its recent weekly high. Gold deflated yet again as it almost dropped below the $1900USD per ounce level before bouncing back to finish just on the $1930 level.
Looking at share markets in Asia from yesterday’s session where mainland Chinese share markets were down all session again with the Shanghai Composite losing 0.8% to the 3215 point level while the Hang Seng Index sunk more nearly 2% lower to push down to 19218 points.
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