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Markets around the world bounced back today after a brutal start to the new year but despite that they are still well off the record highs of a year and a half ago.

The Chinese markets rebounded as did the TSX a day after China suspended trading for the second time this week. China’s actions were another example of a turbulent start to the global economy for 2016.

But the market’s decline hasn’t been sudden. Financial analysts have been monitoring the fall over the last 18 months with oil being the biggest loser.

“We’re getting to the point of talking about crude selling at less than $30 and Canada that basically means we’re selling the cheapest crude in the world.”

As a result, the Canadian dollar continues to be at it’s lowest rate in over a dozen years but you won’t hear experts mutter the term ‘financial crisis’ just yet.