The fireworks of New Year’s Eve heralded the arrival of 2016 and, as far as financial markets are concerned, those fireworks have continued well into this week.
In an action-packed few days, news from China has been met with a spectacular reaction by the markets, trumping significant geopolitical issues in the Middle East and Asia. Saudi Arabia’s execution of Shia cleric, Sheikh Nimr al-Nimr, caused a swift deterioration in relations with Iran, which resulted in a brief jump in the oil and gold prices. North Korea’s reports of nuclear tests have heightened anxiety amongst its neighbours, but China’s actions have completely overshadowed both of these situations, with markets reeling around the world.
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