A healthy bounce for the Nikkei ahead of the weekend closing up 0.8% but we only saw a small reversal in the Yen. The currency needs to move at the same time but in opposite directions in order to maximize trend. JPY was last seen this evening at 114.50, almost unchanged for the cash close. Nikkei futures are small down in late trading whilst sentiment around global stocks remains stable. In China the poor trade numbers hit confidence more than stocks with the Shanghai closing -0.2%. Exports were expected to fall 3.5% but released at -6.1% and imports expected 2.7% came in at 3.1%. The Hang Seng performed better following global large cap’s and closed 0.45%. CNH was seen in late US trading around the 6.8500 level.
This post was published at Armstrong Economics on Jan 13, 2017.
Follow on Twitter
Recent Comments