Market Talk – October 21, 2016

by Martin Armstrong
Armstrong Economics

It was all happening in Asia overnight with typhoons, earthquakes and a six year low fix for the on-shore Yuan. The PSX (Philippine index) was lower by 0.8% in late trading as the winds struck whilst Tokyo suffered the quake which many say was the result for the Nikkei weakness and the Yens strength. Hang Seng closed lunchtime as the weather approached. In China government data disclosed that in September, property prices gained at the fastest pace on record. At the same time they fixed the Yuan at the weakest level in nearly six years (6.7648). In late US trading the off-shore Yuan traded up to 6.7768 breaching the flash high set in January of this year.

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