Weekly Update 14 Jun 2019

Cryptocurrencies moved higher, national currencies and bonds slid lower, and stock indexes and commodities were mixed. Bitcoin topped the winner's list, rising 7.2%. Palladium also rose strongly, gaining 5.9%. The largest losses were in coffee, which fell 5.6%.

National currencies all fell this week, led by the Euro, which dropped 1.8% (actually, the British Pound Sterling, not shown on the chart, did a bit worse, sliding 1.9%). The US Dollar outperformed, dropping just 0.8%. Bonds mostly traded in line with the Dollar, giving up 0.8% for the short term SHY, and 1.0% for the long term TLT.

Cryptos recovered a good chunk of their losses from the prior week. Bitcoin slid early in the week to a low of 178.4 grams, then rallied to close at 200.1 grams, up 7.2%. The gains continued over the weekend as well, finishing Monday at 216.1 grams. Ethereum followed a similar pattern, gaining 4.4% to end the week at 6.1 grams.

Stocks were mixed, as the HUI gold index rose 2.0%, while the Euro STOXX fell 1.6%. The Dow Jones Industrials were up 0.8%, but the S&P 500 declined 0.3%

Commodities had the largest prices moves outside of the cryptos. Palladium surged 5.9% to close at 33.3 grams/oz, while coffee dropped 5.6%. Platinum fell 0.5% to close at 18.6 grams/oz, right on its all time low, and fell further on Monday, setting a new all time low. Silver was unchanged for the week.