Macro Morning

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By Chris Becker

A mixed session on overnight markets with another round of earnings about to start in the US as traders weigh up the recent NFP print and ongoing political drama. The USD lifted slightly against the majors keeping gold and oil depressed. Bonds remain under pressure as the worlds biggest market hinges on the sweet nothings of central bankers around the globe.

Yesterday in mainland China the Shanghai Composite finished down only slightly, remaining stable at 3212 points still holding above previous resistance at 3200 points. The daily trend is firming as momentum builds here, but the upside target is quite limited at 3300:

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