The S&P/ASX 200 declined 0.6% for the week as banks and miners rebounded on Friday reversing earlier declines. The S&P 500 gained 0.9% on optimism around the pace of US tax reforms. US small- and mid-cap ETFs (IJR, IRU and IJH) were amongst the top performers for the week.
The Australian dollar declined 0.5% last week. Pound sterling and the euro gained 2.4% and 1.0% against the US dollar respectively following the announcement of a UK general election and Emmanuel Macron’s strong victory in the first round of the French presidential election. BetaShares British Pound ETF (POU) returned 2.9% for the week.
WTI crude declined 6.7% as US production and inventories increased. Gold dropped 0.2%. Commodity and mining ETFs (OOO, MNRS, QCB, FUEL and GDX) were amongst the poorest performers for the week.
The Australian ETF market saw inflows of A$145m and outflows of A$20m from domestically domiciled ETFs. The largest inflows were into broad-based Australian S&P/ASX 200 funds (STW and IOZ).
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