Market Talk – July 18, 2016

by Martin Armstrong
Armstrong Economics

Despite weekend press of Turkey, BREXIT and a small early CPI miss for New Zealand (0.4% against an expected 0.5%) and with Japan on a national holiday, all of this resulted in a rather lacklustre start to the week. Shanghai saw a fairly tight trading range (<1%), closing off the days lows but still down 0.4%. Hang Seng managed a better than expected performance as mood improved after confidence settled compared to late Fridays US trading. A similar session in Europe to what we saw in Asia. With the lack of any major economic data and a reasonably quiet Sunday Press, markets meandered into the week with a mixed performance. One piece of news that many dealers were discussing was Softbank’s purchase of ARM Holdings. Continue Reading at…