Macro Afternoon

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by Chris Becker

With the poor lead coming out of Wall Street on Friday night, Asian stocks have been mixed following the usual Monday morning gap with Japanese shares the only one to rally. This was on the back of a weaker Yen, with USDJPY briefly dipping below 100 but now higher as the Yuan fix came in weaker than expected.

The Shanghai Composite is currently down over 0.5% but still holding on to support above 3000 points, while Eurostoxx futures are pointing to a 0.2% drop as we head into the London open.

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