Weekly Update 26 Jan 2018
This week, commodities and currencies (national and crypto) were mixed, bonds were lower, and equities were mostly higher. Crude oil saw the largest price increase, rising 3.0%. Bitcoin fell the most, down 5.0%, but cotton was close behind, dropping 4.8%. Gold stocks made the second largest gains, rising 1.9%.
The USD was the worst performing national currency, falling 1.3%, while the Japanese Yen rose the most, closing up 0.5%. Short term bonds fell more than USD cash, closing off 1.4%, and long term bonds fell a bit less, dropping 0.9%.
After large drops in the previous two weeks, Bitcoin moderated its rate of fall this week, giving up just 5%. Ethereum continues to hover just below the 1 gold ounce level, finishing the week at 24.3 grams, up 0.2%
Only the Japanese Nikkei closed lower this week, off 0.2%. Gold stocks gained the most, rising 1.9% to close at 4.7 grams. The S&P 500 gained 0.9%, while the European STOXX rose 0.4%.
Crude oil continues its rise, adding 3.0% to close at 1.5 grams per barrel. Coffee also made good gains, rising 1.8% for the week. Cotton was the weakest of the commodities, closing down 4.8%. Palladium also fell hard, dropping 3.6% to close at 25.0 grams per ounce. Platinum fell 0.8%, while silver rose 0.7%.