Macro Morning

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Australian dollar soars as global markets melt down

By Chris BeckerĀ 

Hope returned to stock markets overnight as US economic data beat expectations. Wall Street rallied over 1% higher with the usual safe haven assets falling in response, although Bitcoin did surge above the $9000 mark. Oil prices came back a little after being whallopped, while the USD lost ground against most of the majors in response to the big lift in US durable goods orders as US house prices and consumer confidence also lifted.

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