Chinese markets pare early gains, 'risk off' pressure returns

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Bali) - After a promising open of +2.2%, the Shanghai Comp is now firmly in the red, currently trading -2% - bounce now seen as possible intervention chatter continues -, with ChiNext down by 5% at one stage.

    This turnaround has caused risk averse bids to return into the market, with the Yen benefiting by trading close to 118.00 after peaking at 118.60. Meanwhile, the AUD/USD has lost key support at 0.7050, now seen as resistance again.
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