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Hardy: Looking to the US to see if appetite for risk is back on

The markets moved on fresh dovish rhetoric from ECB President Mario Draghi, says Saxo Bank’s John Hardy. But the question is whether it will prove to be a temporary shift in risk appetite or a sign of real change?

Hardy points to the fact that the statements made by Draghi in the European Parliament coincided with a move from the Chinese authorities to boost the yuan. Fears over devaluation of the Chinese currency have been one of the main reasons for the risk-off sentiment in the markets since the start of the year.

With US markets closed on Monday, Hardy says he wants to see a full US session to confirm where risk sentiment is heading.

01:57 minutes
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