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WATCH: January Economic Update

The year got off to a shaky start.

  • The year started on a shaky foundation with the top Iranian commander being killed in a US-ordered airstrike. This increased tensions between the nations following a spate of previous attacks and triggered some volatility in the oil price.
  • On January 15 US President Donald Trump signed off on phase one of a trade deal with China which marked a positive sign that the damaging trade war battle between the two largest economies is slowly coming to an end.
  • There have been slight hiccups along the way for Trump but despite the news, the US markets continue to remain stable.
  • On  January 31 at 11pm UK time Britain formally withdrew from the European Union. This is just the beginning of the transition period and details still need to be finalised on the future relationship that the UK will have with its European neighbours.
  • The death toll in China from the Coronavirus has risen to over 600, with over 31 000 cases confirmed (as at February 7, 12:40pm). Scientists from all across the world are struggling to come up with a solution to end the spread of the virus. This virus emerged from the Chinese city Wuhan.
  • The implication of the Coronavirus was a massive exodus and sell-off in Chinese stocks which sent shockwaves through the global markets.
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Michael Haldane

Global & Local The Investment Experts

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