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Another NFP day. Ahead of this, Chinese stocks were in focus overnight. BYD shares have soared 20% this week as we await Autopilot updates, and overnight, the Hang Seng Tech Index rallied as much as +2.9% at one point.

Since Monday, President Trump has decided to impose and then defer tariffs on Canada and Mexico. He then proceeded with a 10% levy on all imports from China, which immediately retaliated with its own levies on the U.S. As this activity starts to calm down today, we can focus on the Old Lady (the BoE).

Whilst we are still navigating trade wars, intraday volatility has increased. The latest development is that the U.S. Postal Service has temporarily suspended inbound international packages from China and Hong Kong.