12.01.2016 - Global currency markets are now dancing to China's tune
It has been a brutal start to the year for markets around the world - for several the worst start in their history. Stocks, currencies and commodities have taken a hammering. The Shanghai, Eurostoxx and Nikkei indexes were all down between 6% and 10% through the first week of the year, with palladium, oil and lead down in the same range. Multiple currencies, including the South Korean won, Mexican peso, New Zealand dollar and South African rand, were down 2% to 4%. A key driver has been the devaluation of the Chinese yuan. Now, you might be wondering why a currency move in China is setting fire to markets across the globe...............................................Full Article: Source
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