Highlights Of The Week:
Global equity markets were mixed for the week with activity around the transition to the new US administration and speculation of a ‘hard’ Brexit dragging on otherwise mainly positive data. The S&P/ASX 200 fell 0.6% and the S&P 500 fell 0.1%, while the tech-heavy Nasdaq 100 rose 1.1%. Resource sector ETFs (QRE and OZR) were the best performers for the week. Real estate ETFs (DJRE, RENT and MVA) were the poorest performers.
Gold rose 1.2% for the week and iron ore was up 5.6%, while WTI crude declined 3%. Currency hedged commodity products (QAG, QAU and QCB) performed strongly.
The Australian dollar jumped 2.8% during the week, climbing back above US 75c for the first time in a month. Pound sterling continued to decline, dropping 3.5% against the Australian dollar and hitting new 30 year lows against the US dollar.
The Australian ETF market saw inflows of A$56m and outflows of A$129m from domestically domiciled ETFs. The biggest inflows were into cash (AAA) and bearish equities (BBOZ and BEAR), whilst the biggest outflows were from broad-based Australian equities (STW and SFY).
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