Asia started where the US markets off and confidence ahead of payrolls Friday, a government shut-down averted and hopes riding high for a BREXIT deal – which ran on the back of Sterling’s strength. For the Nikkei it felt important that we saw a 1.5% rally today taking us back to returning a roughly flat week. The GDP data certainly helped sentiment blasting the market 1.4% expectation and printing an impressive +2.5%. Yen lost a little as expected (0.4%), but that was a full big figure change and was in-place ahead of the US payrolls number. China’s economic data was also in the news with Trade figures better than forecast, resulting in a strong Hang Seng (+1.2%) and Shanghai (+1.1%) indices. Including the near 1% rally for the SENSEX also, these were strong and confident closes for Asia.
This post was published at Armstrong Economics on Dec 8, 2017.