Results for the first full week of trading in 2019 were mixed for currencies, stocks and commodities, but lower for cryptos and bonds. Ethereum, the prior week's biggest gainer, was this week's worst loser, giving back all of its gains and then some, closing down 18.1%. Bitcoin was in second place, dropping 5.1%. Commodities were the best performers, as crude oil added another 6.6% on top of last week's 5.7% gain, and palladium rose 3.8% to close at 32.0 grams, solidly above parity with gold.
Another short trading week over New Years has given mixed results for most asset classes. The largest gains were once again in Ethereum, which rose 12.2%. Crude oil reversed course to gain 5.7%. The largest losses were in Bitcoin, down 1.8%, and the Chinese Yuan, off 1.5%.
The short trading week over Christmas brought a mix of results, taking bonds and national currencies lower, and producing a range of results for cryptocurrencies, stocks and commodities. The largest gains were in Ethereum, which rose 23.7%, and silver, which gained 2.4%. Cotton took the biggest losses, closing down 3.0% followed by the Canadian Dollar and crude oil which each fell 2.2%.
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It was a rough pre-Christmas week for most asset classes except the cryptocurrencies, which bounced back strongly; Ethereum rose 27.5%, while Bitcoin gained 18.0%. Commodities were hardest hit, as crude oil plunged 12.2% and cotton sank 9.8%. Stocks weren't spared, either; the S&P 500 closed down 8.7%.
Results were mixed for stocks, commodities and currencies, while bonds rose and the cryptos fell once again. Palladium showed the largest gains, rising 2.7% and closing at 31.0 grams – just shy of parity with gold. Ethereum had the largest loss, dropping 9.0%.
Very few asset classes made gains this week. The short list was headed by gold stocks, as the HUI rose 4.0%, and crude oil, which added 1.2%. The largest losses were once again in cryptocurrencies, as Ethereum fell 19.3% and Bitcoin dropped 16.6%.
This was a good week for bonds and the major stock indexes, but cryptocurrencies fell again and commodities were mixed. Palladium led the way higher, gaining 6.1%, while Ethereum took the worst beating, dropping 7.8%. The DJIA was the second best performer, rising 5.7%.
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This was a rough week for nearly every asset class, with only cotton (up 1.3%) and long term bonds (up 0.3%) showing any gains. The brunt of the selling was once again cryptocurrencies, as ETH plunged 29.7% and BTC fell 22.1%. Stocks and commodities weren't spared: crude oil dropped 10.8% and the DJIA fell 4.5%.
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Cryptocurrency markets were hit hard this week, as Ethereum (down 17.4%) and Bitcoin (off 13.5%) closed at new lows for the year (More on this below.) Crude oil was also hit hard, falling 7.0%. Most other asset classes were also lower, but there were exceptions, including palladium, which rose 4.0%, and copper, which gained 3.4%.
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Most asset classes were higher this week. The exceptions were gold stocks and some of the commodities. Ethereum, up 6.5%, and the Dow Jones Industrials, up 4.6%, topped the rising list. The biggest losses were in coffee, off 3.5%, and crude oil, down 3.0%.
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