In a generally tumultuous week of global financial turmoil, Australian wool auction markets proved a standout for a reaction that was calm and considered. The basic fundamentals of supply, demand and foreign exchange remained the key ingredients to market direction to the dramatic news from Europe and any emotive reaction to the Brexit vote was left at the door of auction rooms. Buyers, exporters and brokers saw the result in Britain for what it was and quickly analysed the potential impacts as minimal for the time being. Confidence was unaffected and price rises throughout the Merino sector was the predominant reason for a season ending 12ac or 1% gain in the EMI to finish just short of the 1300c/kg mark at 1297ac/clean kg. In USD terms the EMI figure slipped by 5usc due to a weaker AUD and concluded the 2015/16 wool season at 963usc/clean kg.