armstrongeconomics.com / by Martin Armstrong / Oct 7, 2016
Asian markets were marginally better on the back of oil but were awaiting the all important US jobs report after a sleepy opening until the FX market woke everyone up. A “fat-finger trade” as many were reporting it (implying a trader input the wrong price and/or quantity) saw GBP trade down to 1.1378 in seconds only to recover to 1.1900 briefly then concentrate back at 1.2400. As far as we know all trades were honoured yet the speculation continues. Stocks really were unsure what to do and so continued to consolidate just under previous close. In late US trading the HK futures have recovered the earlier losses whilst the Nikkei continues the weaker theme as the JPY approaches the 103 level.