Macro Morning

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By Chris Becker 

Risk markets are still floating along on a positive sentiment vibe while the USD reversed course overnight, surging against the majors and knocking gold back to its lowest level in two weeks. Treasury yields continue to climb, now above 2.71% as the latest CPI print came in a little hotter than expected.

Looking at the action on the Asian session yesterday, the Hong Kong Hang Seng Index closed 1% higher to remain well above 28000 points, finally able to make a significant new daily high as it cleared the previous highs. This rally is steadily building above the previous false break high at 27300 with momentum still in a slightly overbought zone for it to continue:

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