27 August 2014

Weekly Market Update – week ending 8 August 2014

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weekly market update
Investment markets and key developments over the past week

The share market correction continued over the last week with a whole range of issues weighing on confidence including Russian retaliatory sanctions, increased fears of a Russian invasion of Ukraine, US air strikes on northern Iraq, poor data in Europe, strong data in the US continuing to feed Fed tightening fears and even the latest Ebola virus outbreak.

Through the week European shares fell 2.5%, Japanese shares fell 4.8% and Australian shares fell 2.2%, but the Chinese share market rose another 0.4% and the US share market had a bounce on Friday on some signs of a de-escalation of the Ukrainian crisis leaving it up 0.3% for the week. From their recent highs US shares have now had a fall of 4%, Eurozone shares 10%, global shares 4% and Australian shares 3.5%. The risk off tone saw bond yields and metal prices fall and the gold price rise. The $A also fell helped along by a sharp rise in unemployment in Australia and a dovish statement from the RBA.

Please click here to read the full article:  Weekly-Report – 8 August 2014

The author is an employee of Verante Financial Planning in Castle Hill, Corporate Authorised Representative of Magnitude Group Limited, Licence No 221557, Magnitude Group Limited ABN 54 086 266 202.