Macro Dragon: Low Touch...
Macro Dragon = Daily Cross-Asset Global Views
In today's tight Macro Dragon, we tune into the latest on the risk-off that we saw over Tuesday in regards to the SARs like coronavirus. We had some big moves including close to -3% on HK Equity index & a +0.61% move in USDCNH to 6.91. We also check in on a few other things that are bubbling in the Macro Dragon's kitchen including: USDJPY & whether or not upside is still intact post the c. -0.30% move o/n, the latest from the active TAAL volcano in the Philippines (our USDPHP long continues to grind higher for the wrong reasons - yet we take what we can!) as well as today's Bank of Canada rate decision. KVP reckons its a risk-on day, so long as there is no larger fall-out from the coronavirus.
