by Martin Armstrong
Armstrong Economics
Even though we have two central banks announcing rate decision this week, in addition to Tuesday being one of the busiest corporate reporting days of the year and hearing from the G20 at the weekend, this week looks to be one of the quietest! Asia had no reaction to anything emerging from the G20 as the most discussed topic happened to be Nintendo shares declining 18%, often the case when buying the hype, selling the release. Over the year, however, the shares are still well into positive territory. Probably not surprising we are seeing a quiet session ahead of the two-day BOJ meeting commencing July 28th.
With Asia not providing much direction given all the potential news avenues over the past weekend, Europe is forced to focus, again, on Italian Bank Stress Tests end of the week.