On Monday June 24, Trump signed an order which imposes a new set of sanctions targeting the supreme leader of Iran, Ayatollah Ali Khamenei. According to Trump, these sanctions will deny the Iranian supreme leader and those who are closely affiliated with him access to key financial resources.
On Tuesday June 25, the US crude inventories data was published showing a decline of 7.55m barrels. Crude oil gained against the falling inventories as well as the escalated tensions between the US and Iran.
On Wednesday June 26, Bitcoin surged and hit $13,500 after climbing for 10 days, the highest level over 17 months. The surge ended on Thursday with the currency trading below $11,000.
On Thursday June 27, the US GDP growth for Q1 2019 was released, with an annualised growth rate landing at 3.1%, improving from 2.2% for the previous quarter. On Friday June 28, UK GDP growth was also published, standing at 1.8% YoY.
US trade balance for May will be announced on Wednesday July 6, with an expected deficit at $53.5bn.
US unemployment rate will be released on Friday July 5 and is expected at 3.6%.
-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 24/06/2019
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.