Macro Morning

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By Chris Becker 

US stocks have surged to record highs on the hopes that trade talks will bear fruit soon with an official extension to Brexit stabilizing European markets. Gold fell below $1500USD per ounce while Bitcoin remains under $10,000 as USD lost ground against Euro and the Aussie dollar in the risk taking mood.

Looking at the action on Asian markets yesterday, where the Shanghai Composite moved substantially higher, closing up 0.8% to 2980 points, just shy of the 3000 points barrier while the Hang Seng Index broke out of its sideways funk to close nearly 1% higher to 26891 points, breaking the weekly downtrend line. Again, short term possibilities have not yet outweighed the longer term depressed setup:

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