Macro Morning

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By Chris Becker

A trio of solid economic prints across China, Europe and the US as the North Korean tensions fade into the background flicked the risk on triggers across traders desks last night. US and European stocks rallied and the USD was sold off against the undollar assets. Risk has dialled in a lot of positivity coming up to tonights US non-farm payrolls!

Recapping Asia yesterday the Shanghai Composite closed down only a few points at 3360 extending its pause here after the big breakout recently. The daily chart shows the swift ride up to the next resistance level at 3400 points which might have been a bit too quick, so a retracement back to new support at 3300 is still on the cards here:

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