Although it has been a quiet week, sharp weakness in the Turkish Lire has increasesed fear of a potential correction.  While a small correction is possible at any time, it is key to remember the market ultimately should move with the direction of earnings, and the recent few weeks have shown just how positive the fundamental backdrop continues to be.

To finish off a quiet week, today the Consumer Price Index (CPI) for the month of July will be released, following the Producer Price Index (PPI) release yesterday. PPI was up +3.3% year-over-year, down from the +3.4% rise in June (see more here).

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