Market Talk – July 26, 2024
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 202.10 points or -0.53% to 37,667.41 Shanghai increased 4.16 points or 0.14% to 2,890.90 Hang [...]
May Survives No-Confidence Vote but has until Monday 21st to present New Proposal
The British pound moved higher following the British Prime Minister Theresa May’s government narrowly surviving a no confidence vote brought by the opposition over the handling of BREXIT. The vote was narrow with May winning by just 19 votes. Our sources were correct that she would survive. However, while the 21st seems to be a target date of our models, the prime minister has just three days to propose an alternative deal – that is January 21st. I find it curious how the computer picks weeks in advance of political events the targets for market movements that are driven by politics. There is clearly something beyond the headlines that the computer picks up.
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