Markets came storming back, with the DOW breaking above 50,000 for the first time ever, to close out a week of trading carnage. US equity markets surged, as did Crypto’s, while the US Dollar softened. It has been a week of extreme volatility and realignment, with equities and Cryptos being destroyed. This has followed the last month of extreme volatility in the precious metals markets, the like of which, has not been seen before. Risk appetite roared back, to close out the week, but these unsettled markets are far from over. The safety of the US Dollar also eased, with the EUR regaining 1.1800, while the GBP recaptured 1.3600.Commodity currencies were beneficiaries of the weaker reserve, with the AUD regaining 0.7000, while the NZD surged back above the key ‘Big Figure’ of 0.6000. This coming week will almost inevitably endure another week of volatility and realignment. The Crypto Armageddon is far from over and the precious metals markets are in for further adjustment. Currencies and equities will also enjoy the mayhem.
