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The market’s attention was fixed firmly on Turkey this week, with concerns centring on deteriorating relations with the United States. This has been driven by the continuing detention of American pastor Andrew Brunson, over his alleged links to political groups involved in the attempted coup of 2016.
August is often a quiet month for news, both political and economic. Many of the stories this week were the same as before. Donald Trump continues to threaten the rest of the World with import tariffs. Back at home, Brexit uncertainty continues and so does the infighting within the political parties, particularly the Tories.
China economic data weakens, the central Government or People’s Bank of China (PBoC), stimulates credit or loosens fiscal restraints - 6% Gross Domestic Product (GDP) is miraculously achieved.
Heatwave aside, Brexit continues to hog the limelight in the UK. Having put forward what she believes to be a workable exit plan, Prime Minister Theresa May is still seeking support from both Parliament and Europe.