The week was dominated by central bank action, with the RBA and Bank of England both cutting rates to record lows and speculation of Fed action re-emerging following better than expected US employment numbers on Friday. The S&P/ASX 200 fell 1.2%, the EURO STOXX 50 fell 0.6% and the S&P 500 ended the week slightly higher.
Precious metals were in favour for most of the week, with gold gaining over 2% before falling on Friday to close the week slightly lower. BetaShares Gold Bullion (Currency Hedged) ETF (QAU) and ANZ ETFS Physical Gold ETF (ZGOL) were both amongst the top performing ETFs for the week. Iron ore gained 2.3% to reach its highest levels since April.
The Australian dollar dropped below US 75c in the immediate aftermath of the RBA rate cut, but quickly regained ground and ended the week above US 76c.
The Australian ETF market saw A$43m in inflows and A$103m of outflows from domestically domiciled ETFs for the week.
Chart of the Week – YTD performance of major commodities
.jpg)
Click here to Download the full report
If you would like to learn more about ANZ ETFS EURO STOXX 50® ETF (ESTX) go to.
Kris Walesby, Head of ANZ ETFS
