Global equities started the week strongly before dipping on news of the US military strikes on Syria. The oil price jumped and safe haven assets including gold and US dollars gained ground. Energy stocks were the top performing sector in the domestic market, while global gold mining funds (GDX and MNRS) were the top performing equity ETFs.
The Australian dollar ended the week down 1.7%, trading briefly below US75c towards the end of the week. The US Dollar Index, an average of the exchange rates between the US dollar and major world currencies, gained 0.8% for the week on safe haven buying.
WTI crude gained 3.2% and gold added 1.7% for the week.
The Australian ETF market saw inflows of A$110m and outflows of A$67m from domestically domiciled ETFs. The largest inflows were into BetaShares Australian High Interest Cash ETF (AAA), while the largest outflows were from SPDR S&P/ASX 200 Fund (STW).
ANZ ETFS launched the ANZ ETFS Morningstar Global Technology ETF, ASX Code: TECH.
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