Macro Morning

By Chris Becker 

The end of the northern hemisphere summer break usually spells doom and gloom on risk markets, and that’s where the mood takes us at the moment with Friday nights US unemployment print unable to shake confidence back into the complex. More threats and cajoling on both sides of the US/China trade war – plus some minor skirmishes between South Korea and Japan, and of course, the usual Brexit melodrama – are threatening to topple the whole thing over. The USD is being bid left right and center while commodities are sold off, with copper putting in a disastrous week as a bellwether.

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