Weekly Update 6 Nov 2020

National currencies and bonds fell, stocks and cryptocurrencies rose strongly, and commodities were mixed. The biggest gains were in cryptos, as Ether rose 15.2%, and Bitcoin gained 11.4%. Cotton fell 3.5%, while the US Dollar and its short term notes fell 3.0%, the largest losses this week.

The US Dollar and Chinese Yuan were the weakest national currencies, falling 3.0% and 2.6% respectively. The Canadian Dollar outperformed by declining 0.8%. Short term notes followed USD cash, closing down 3.0%, but long term bonds did better, declining only 1.8%.

Cryptocurrencies were very strong, as Ethereum gained 15.2% and Bitcoin rose 11.4%. This strength was mostly concentrated in the largest cryptos, however. The broader index of 30 coins, the CCi30, managed only a 5.5% gain.

Stocks also had a good week, with all the indexes tracked in the table closing in the black. Gold stocks and the European STOXX led the way, rising 6.7% each. The Dow Industrials underperformed their peers, but still added 3.6%.

Among the commodities, palladium and silver were the star performers, rising 6.6% and 5.8% respectively. Cotton fell 3.5%, and coffee declined 0.7%; they were the table's only commodities in the red.

Year over year, the top places to be are Ethereum (up 84.3%) and Bitcoin (up 27.3%). Third place goes to gold stocks, which gained 23.6%. Major stock indexes, bonds, and national currencies were all in the red, but the largest losses were in crude oil, which dropped 49.5%. The Euro STOXX were in distant second place, falling 28.7%.