by Martin Armstrong
Armstrong Economics
“A confident close for the week” that was how one trader expressed the Asian markets today. A good solid recovery, from the morning sessions, ahead of the weekend and also the NFP. The PBOC fixed the Yuan rate at 6.5284 which was slightly firmer against the USD compared to Thursday’s fix (6.5412). A dramatic dip in the Shanghai index (-1.5%) just after lunch, was quickly reversed and by the close finished up 0.5% on the day. The Hang Seng closed the day +1.2% and the Nikkei which was led by exporters again rallied +0.3%.