Macro Morning

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By Chris Becker

The Yanks had the night off but that didn’t stop the selloff in USD with the Euro lifting higher, pushing European stocks marginally lower after a solid Asian session. Commodities continue to appreciate in the wake of the dead King of currencies with gold almost back to its 2017 high. In bond land, German bund yields are now at a six month high.

Recapping action in Asia yesterday where in mainland China the Shanghai Composite has had a mixed start to the week, closing 0.5% lower, slumping after the long lunch break but still just above resistance at 3400 points. The next target still remains at the false breakout high at the 3430 area during November but maybe its a target too high?

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