Weekly Update 26 Apr 2019
National currencies and cryptocurrencies were lower this week; other asset classes were mixed. The largest losses were in Ethereum, which dropped 10.6%, and crude oil, which fell 1.9%. Coffee rose 3.6% while palladium added 1.9%, the largest gains this week.
The weakest national currencies were the Euro and the Loonie, which dropped 1.4% each. The Japanese Yen and the Chinese Yuan fared best, falling 0.4% each. The USD gave up 0.7%. Its bonds did much better, as the short term SHY fell 0.4% and the long term TLT gained 0.1%.
Bitcoin moved higher early in the week, peaking at 136.5 grams on Tuesday the 23rd, then fell, precipitously on Thursday, hitting a low of 126.5 grams, before recovering to close at 127.9 grams, down 1.1%. The drop has been attributed to the New York Attorney General's accusations against Bitfinex and Tether. Other cryptos were much more strongly affected, including Ethereum, which closed the week down 10.6%, and DASH, which fell 11.6%.
Most equities were lower, but the S&P 500 managed a gain of 0.5%. The largest drop was for the Euro STOXX, which fell 1.5%. The Dow Industrials were off 0.7%.
Coffee surged 3.6%, the week's largest gain, and palladium rose 1.9%, the second largest. Crude oil fell 1.9% and copper dropped 1.8%. Silver closed down 0.4%.
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