Global equities mostly trended sideways last week, with the S&P/ASX 200 gaining 1.2%, the EURO STOXX 50 adding 0.6% and the S&P 500 ending the week slightly lower. Mining and resource sector ETFs rebounded, with VanEck Vectors Gold Miners ETF (GDX) returning 3.8%, taking its year-to-date total return to 113.1%.
Precious metals returned to favour with gold gaining 1.6% and silver 1.7%. ETFS Physical Platinum (ETPMPT) was the top performing commodity ETF, returning 2.8% for the week, while ETFS Physical Palladium (ETPMPD) has returned 18.8% over the past month.
The Australian dollar gained 1.8%, ending just below US 76c ahead of today’s RBA rate announcement. The Japanese yen continued its volatile year, gaining 3.8% against the US dollar. Year-to-date the yen has gained 15.1% on the back of multiple stimulus packages.
The Australian ETF market saw A$65m in inflows and A$68m of outflows from domestically domiciled ETFs for the week.
Chart of the Week – YTD performance of AUD against major currencies
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Kris Walesby, Head of ANZ ETFS
