The S&P/ASX 200 declined 0.2% for the week, dragged down by the resources sector. The S&P 500 gained 0.7% following a positive reaction to Trump’s address to congress on Wednesday.
The EURO STOXX 50 gained 3% for the week with eurozone PMI numbers signalling a six-year high in economic activity and signs of receding political risk from the upcoming European elections. ANZ ETFS EURO STOXX 50 ETF (ESTX) returned 4.5% and three other Europe-focused ETFs (VEQ, UBE and IEU) all returned in excess of 3%.
Firming expectations of a March rate rise in the US checked recent advances in precious metals, with gold down 2.2% and silver declining 3.3%. Gold mining ETFs were the poorest performers for the week, with GDX and MNRS both down over 6%.
Fed expectations and lower commodity prices dragged the Australian dollar lower, with the currency ending the week below US76c.
The Australian ETF market saw inflows of A$151m and outflows of just A$1m from domestically domiciled ETFs. The largest inflows were into S&P/ASX 200-linked ETFs (STW and IOZ) and high yield domestic ETFs (HVST and YMAX).
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