The Australian Share market lost ground last week as the iron ore price continued lower, eventually closing 12% down for the month. The ASX200 is forecasted to experience some further drops this week with other commodities prices losing some ground of the back end last week.
We saw another strong week of growth in US equity markets with benchmark indexes reaching record highs. The S&P500 has gained over four percent this year even with mixed data clouding the view of economic outlook and health.
In Asian share markets the Nikkei 225 saw a drop off the back of a strengthening Japanese Yen, across the board the majority of Asian stock index suffered some losses mostly closing in the red.
In the Eurozone, investors this week will be looking towards the European Central Bank’s policy meeting this Thursday as they speak about putting steps into place to tackle deflation.
In the commodities sector we saw WTI Crude Oil suffer a loss last week with rising inventories and supply. Gold suffered its biggest weekly drop since September last year with Silver also falling to an 11 month low.
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