Clint Sorenson, CFA, CMT
WealthShield
"Markets will fluctuate."
- John Pierpont Morgan
This is the last time we will write to you in 2018. The year was interesting, to say the least. We had trade wars, bear markets, bull markets, a Fed tightening, and loads of entertainment out of Washington. From an asset market perspective, cash was king as most asset classes demonstrated weak returns for the year. Stocks started off the year great, climbing in January before correcting more than -10%, and bottoming in the early spring. US stocks then rallied into their September peak, leaving global stocks in the dust as they failed to recover. Since the end of September, stocks have been hit hard. The Wilshire total market index is down over -15% for the quarter and almost - 8% for the year.
Global stocks have done worse than US equities. The MSCI All Country World Ex US index is down over -15% for the year. Bitcoin has been the mother of all bear markets, declining more than 70% this year.
WealthShield is a division of Emerald Investment Partners, an SEC Registered Investment Advisor. Advisory services are only offered to clients or prospective clients where WealthShield and it’s representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by WealthShield unless a client service agreement is in place. Before investing, consider your investment objectives and WealthShield’s charges and expenses.
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EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.