Macro Morning

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By Chris Becker 

Market sentiment was buoyed yesterday by the inference by the somewhat positive news surrounding the US/China trade talks, with stocks on both sides of the Atlantic rising, albeit with some hesitation towards the end of the session. The USD lost ground against most of the majors while US Treasuries are still flat.

Looking first at the action on the Asian session yesterday, the Hong Kong Hang Seng Index was flat going into the close before a late surge saw it finish 0.5% higher to 28959 points. The current rally remains intact , with no new close below the high moving average or the trendline on the daily chart. This rally is continuing well making new daily highs after previously clustering for awhile around the 28500 resistance level, with the target still 30,000 points:

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