Macro Morning

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By Chris Becker

As the US-China trade talks get underway, sentiment in risk markets remained buoyant overnight, with USD retreating and oil rising more than 2% as equities continued their Christmas bounceback. The US government shutdown maybe nearing its end but this news has already been priced in, while currency markets are returning to more staid volatility as Euro made a new monthly high.

Recapping Asia’s session yesterday first where the Hang Seng Index lifted late in the session to close 0.8% higher to 25835 points. This is just under previous support at 25600 but there is upside potential here as daily momentum struggles to get to the positive side:

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