Market Talk – August 18, 2016

by Martin Armstrong
Armstrong Economics

Exporters within the Nikkei weighed heavy on the index today eventually closing down 1.55% at 16,486. Watching the JPY trade below par was no surprise the likes of Mazda, Toyota and Nissan all traded around 2% lower. Exports for July were the worst seen in seven years down nearly 25% YoY. China played in a very tight range whilst the Hang Seng performed the best closing up 1%. In late US trading both the Nikkei and Hang Seng following better momentum as the weekend approaches.

Eyes were on the UK again as we saw more economic data post BREXIT. July Retail Sales were expected 0.2% mom but saw actual release at 1.4% and yoy expected 4.2% but showed 5.9%.

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