Morning traders, what we have seen yesterday in markets are those blips of recession fears that have appeared every once in a while recently, stocks and yields dumped, while safe havens outperformed, now the question is whether these flows will remain sustained over time or it was just another blip? there's no clear answer to that question, we have seen these sudden risk off flows quite a bunch of times in the past couple of months and they never continued for more than a couple of days, let's see For the moment we prefer still not to engage with the USD as it's not clear what the next dominant sentiment will be so we just watch patiently and we will take a trade when all the ducks align, the running traders at the moment are still only the AUDNZD long which is getting a little too close to the stop loss but the medium term bias that makes us see 1.12000 as the target is still valid so if stopped we will be looking for a reentry from lower levels with thus better risk reward