Global equity markets broadly declined last week. The S&P/ASX 200 fell 1.2%, the EURO STOXX 50 and the Nikkei 225 both dropped 0.8%. The S&P 500 closed modestly lower (by 0.2%) with relatively light trading volumes during the US government’s administration transition. Bearish Australian equity ETFs (BBOZ, BEAR) and the hedged Global Gold Miners ETF (MNRS) were the best performers for the week. The leveraged long equity ETF (GEAR) and the financials sector ETF (OZF) were the worst performers.
Gold and silver rose 0.9% and 0.8% respectively for the week, while WTI crude edged up by 0.1%.
The Australian dollar rose 0.7% during the week after Donald Trump commented that the US Dollar was "too strong". The Euro also strengthened against the US Dollar by 0.6%.
The Australian ETF market saw inflows of A$32m and outflows of A$5m from domestically domiciled ETFs. The biggest inflows were into cash (AAA) and dividend focused equities (HVST), whilst the biggest outflows were from Japan equities (HJPN) and large cap equities (ILC).
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