Equity markets were generally positive for the week on earnings, growth and inflation expectations. The S&P/ASX 200 gained 1.8%, the S&P 500 gained 0.8%, the Nikkei 225 rose by 2.4% and the Shanghai Composite gained 1.8%. Chinese equities (IZZ) and global gold mining ETFs (MNRS and GDX) were amongst the top performers for the week.
Gold rose 1.1% and silver gained 2.0% in US dollar terms. ETFS Physical Palladium (ETPMPD) was the top performing ETF for the week, returning 4.8%.
In currency markets, the Australian dollar was range-bound edging towards US 77c before ending the week relatively unchanged. The euro was the big mover of the majors, dropping 1.3% against the US dollar and giving up most of its gains since the new year.
The Australian ETF market saw inflows of A$98m and outflows of A$4m from domestically domiciled ETFs. The largest inflows were into defensive assets such as cash (AAA) and gold (GOLD).
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