The United States imposed a new set of sanctions on Russia over the UK nerve-agent attack sending the Russian Ruble and stocks tumbling. Russia has threatened to retaliate, increasing tensions between the two Cold War rivals.
Elon Musk, founder and CEO of Tesla Inc., sent a shocking tweet about a plan to take the company private with a valuation of $82 Billion. Tesla share price spiked over 10% on the back of this tweet.
The Pound Sterling continued its weakening streak dropping to $1.29/GBP becoming the worst performing of the 10 major currencies in the past three months losing over 5%.
Gold has lost its lustre as the spot price trades near its 1-year low at $1,215/Troy Ounce losing over 10% since mid-April 2018.
UK CPI is set for release on Wednesday, 15 August and is expected to come in at 2.6%.
US Retail sales growth will also be released on Wednesday, August 15 and is expected at 0.3% MoM.
-1.0 A score of -1.0 indicates an extremely poor economic outlook, which is accompanied by a high probability of negative returns in risky asset classes like equities. The Risk Barometer tilts our portfolios away from equities during such periods.
0.0 A score of 0 indicates a neutral economic outlook with almost equal probability of positive and negative returns in risky asset classes like equities. The Risk Barometer maintains a balance between equities and other asset classes during such periods.
+1.0 A score of +1.0 indicates an extremely positive economic outlook, which is accompanied by a high probability of positive returns in risky asset classes like equities. The Risk Barometer tilts our portfolios towards equities during such periods.
*as at latest realignment 31/07/18
The performance of each asset class is represented by certain Exchange Traded Funds available to UK investors and expressed in GBP terms selected by Copia Capital Management to represent that asset class, as reported at previous Thursday 4:30pm UK close. Reference to a particular asset class does not represent a recommendation to seek exposure to that asset class. This information is included for comparison purposes for the period stated, but is not an indicator of potential maximum loss for other periods or in the future.