Macro Afternoon

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Swings and roundabouts as risk taking came back to bid across what remains open here in Asia, with stock markets up and European futures looking bright for tonight’s session. The RBA held fire in its monthly meeting with almost no change in the Australian dollar while the USD strengthened against Euro and gold.

Mainland Chinese share markets were closed again but the Hang Seng Index bounced back somewhat to be up nearly 1% at 23831 points, trying to claw back the previous losses and keeping key support firm at 23000 points:

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Japanese share markets are closed through to Wednesday with trading in the USDJPY pair still obviously weak here and largely unchanged from the snapback rally on Friday night:

The ASX200 had a more ebullient day with a 1.6% surge higher, closing at 5407 points, making another dent from its losses on Friday. The Aussie dollar continued its little swing trade throughout the day, heading up to the mid 64s, although momentum is not quite at the positive state on the four hourly chart:

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Eurostoxx futures are up over 1.5% with S&P futures close behind going into the London with the four hourly chart of the latter showing a desire to get back to last week’s support level near the 2850 point level, ready to tackle 3000 once again:

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