Despite slight falls in US and European shares on Friday on the back of slightly less dovish comments from US Federal Reserve (Fed) Chair Janet Yellen and renewed tensions regarding Ukraine, share markets continued to move up over the past week as a whole helped by a combination of good economic data in the US, expectations that central banks will remain supportive and as geopolitics took a back seat for most of the week. Good earnings results also helped boost the Australian share market to a post-global financial crisis high. US shares rose 1.7%, Eurozone shares gained 2.3%, Japanese shares rose 1.4%, Chinese shares rose 0.6% and Australian shares gained 1.4%. Bond yields mostly rose, reflecting better US data and an abatement of safe-haven demand. Commodity prices were mixed though with oil and gold down but metals up. A stronger US dollar saw the yen and euro down, but the Australian dollar was little changed.
Please click here to read the full article: Weekly-Report – 22 August 2014