Macro Morning

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By Chris Becker 

With the trade war truce in place, equity markets gapped higher overnight with US stocks hitting a record high as traders piled all in, despite the worrying signs across the globe as manufacturing rolls over. The USD in particular soared higher against everything, while interest rates were relatively quiet as the 10 year Treasury remained slightly above the 2% yield level.

All eyes today will be on the RBA as it meets for July, with the chance of another rate cut on the cards, despite the central bank’s admittance that it won’t really help things….

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