Macro Morning: Carnage
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by Chris Becker
Where to start this morning – perhaps with the old axiom that volatility begets volatility rings true as markets last night plunged across the board. King Dollar re-mounted the throne amid a broadening risk that Germany is falling into recession with a nearly 6% collapse in monthly exports in the Euro powerhouse.
Although the cash DAX finished its session slightly flat, threatening to confirm the bearish head and shoulders on the daily chart, the after hours futures pummeled the bourse:

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