China's push to make its currency global has entered a new phase this week as the country signed an agreement with Britain to set up clearing services  for the Yuan trading in London, just days after it clinched a similar deal with Germany. China's central bank, the People's Bank of China and its UK counterpart sign a memorandum of understanding to set up clearing arrangements for the Yuan. Analysts say the arrangements are a key step towards the establishment of an offshore Yuan trading center in Europe.

 

Let's take a look at the markets to see how the finished trading week. 

 

And when they closed in Europe, as you can see, very positive across the board there, ah, certainly in London, up 46 points and the Dax in Germany up 67. However, it was a very different story across the Atlantic, as you can see, the Dow down around one percent. The S&P 500 and the Nasdaq following suit.