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US consumer defies geopolitical tension

There were concerns that the consumer confidence figure release today was going to be knocked by the recent build up of geopolitical tensions in Ukraine and the Middle East, but this certainly wasn’t the case.  Stock markets and risk assets continue to defy gravity and it looks like the US economy will have rebounded from its shock fall in GDP last month strongly – we will see tomorrow.  With the labour market continuing to improve it’s little surprise to see a cheerier US consumer and the dollar remains well supported receiving a further boost today.

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