Market Talk – August 16th, 2016

by Martin Armstrong
Armstrong Economics

The strength of the JPY had a large impact on the Nikkei today’s and as it broke par then the Nikkei was hit closing down around -1.7% in all. Exporters are always hit when the currency strengthens and it is not clear which is leading which just yet. Both the Shanghai and Hang Seng were a little weaker but not when comparing to the Nikkei. The talk is the market is loosing confidence in the BOJ’s ability to handle this crisis – after 30 years now they are questioning it!

Main discussions throughout the European and US trading sessions were over the UK inflation data and the upward surprise.

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