Another turn in the market
A shudder went through the market at the open and it's now clear that China/Hong Kong worries were a part of it.
However Pompeo's announcement didn't generate enough worry to snap the market out of rally mode. AUD/USD was quick to lead to the downside but has been slow to participate in the rebound.
However it's being dragged along now in a rebound to 0.6600.
I'm always skeptical of a low-volume midday rally but it's so tough to fight the momentum higher in risk assets at the moment.
