Global Markets reaching for performance

Dave Poxon The Index Strategist

Below is ranking from our US equity and ETF database that tracks 2800 stocks and 92 ETFs. I thought it was interested to see where the best performing ETFs (non US) were because the list is populated with regions and sectors that are the highest volatility or risk with the major exception being latin america. This tells me that there is in fact the reaching for yield as large funds try to grab any performance they can in this lower return environment. The table that is displayed contains much more data than our global trader ALGO table. One thing that does stand out to me is the amount of red in the Zone Alerts. This is indicative of a sell wave starting and it appears to be very broad based. Be cautious on global markets.

Author

Dave Poxon

The Index Strategist

During the past 25 years, I have worked at some of the largest investment firms in Canada including BMO Nesbitt Burns, Canaccord Genuity, Refco Futures Canada, performing quantitative research and trading.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.