Macro Morning

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By Chris Becker 

Wall Street took back its previous mild losses overnight while European bourses were hesistant to move forward despite a supposed “new deal” for Brexit and a possible ceasefire in Syria. While US stocks gained, Treasuries gravitated around the 1.80% level again, as Brent and WTI crude oil prices lifted solidly on the ceasefire news.

Looking at the action on Asian markets yesterday, where the Shanghai Composite spiked again on the open but still can’t hold onto any gains, closing a little lower to 2973 points while the Hang Seng Index continued its post breakout rally, lifting 0.7% to be at 26848 points, almost cracking resistance at 27000. Momentum is gaining here above the positive level, so I’m watching the high moving average as continued support for a breakout:

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