Macro Morning (Trading Week)

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By Chris Becker 

The February non-farm payroll numbers came and passed on Friday night sending markets back into caution mode as the print solidified the Federal Reserve new-ish dovish mood that patience on further interest rate rises is warranted.

Looking at Chinese stocks first, where last week saw the Shanghai Composite finally stabilise above tentative support at the 2600 point level, as stimulus speculation and positioning before the new year holiday. With potential upside with the US/China trade talks this week there is confidence building here but I’m waiting for a significant close above the high moving average:

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