Macro Morning

By Chris Becker 

Risk markets tumbled and the USD soared as data from the US suggested GDP growth is going to be softer than expected. Fourth quarter GDP is now estimated to be 1%, according to the Atlanta Fed after the Markit services PMI came in barely above expansion. Gold shattered below $1500USD, with all the undollars following in kind, but USDJPY leapt to a new weekly high as Wall Street stumbles around with scratch sessions going into the close.

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