{podcast} Stronger than expected China trade and credit data triggered a risk on move on Friday with the groovy vibes preserved throughout the overnight session thanks to solid US bank earnings, corporate activity in the energy sector and Disney’s streaming news. The USD ended softer across the board with commodity link currencies outperforming. Copper led the move higher in commodities and the UST yield curves steepened with 10y UST yields closing the week at 2.56%. China’s trade data, released late in our session on Friday, revealed March Exports jumped 14.2% y/y against expectations of a 6.5% y/y rise. The Trade ... (full story)