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Key technical levels tested on Sterling, Yen and Gold
After four straight days of considerable gains on Wall Street that has already retraced to the 61.8% Fibonacci level of the sell-off, the S&P 500 has undergone a near term correction with a fall of around 0.7%. The minor sell-off was attributed to a reduction in risk appetite amid a terrorist attack in the Canadian capital, however could also have been due to some minor profit-taking too after such a strong run. The overnight news has been that the Chinese HSBC Flash Manufacturing PMI has come in slightly better than expected at 50.4 and above the 50.2 from last month. The Asian markets were mixed to slightly ... (full story)