A little light relief for markets ahead of the weekend with core Asian equities clawing back some of momentum lost earlier in the week. The Nikkei did manage a 1% bounce whilst the Shanghai and HSI closed 0.5% higher. Much had been expected of this week given all the Central Bank activity but we head into the weekend still in search of clarity, a pillow of confidence and direction. All news over the weekend will be pointing to the BREXIT vote and its consequences. This will be the most important vote the UK will be making in decades, shaping capital flows the world over.
Europe continued yesterdays bounce with solid 1% gains for FTSE, DAX and CAC and a 2% rally in the IBEX. However, next weeks events will determine not just the rest of the months direction but the direct of Europe.
This post was published at Armstrong Economics on Jun 17, 2016.
Follow on Twitter
Recent Comments