London, 13 September 2011

Central banks took centre stage last week, with the Swiss National Bank announcing its intention to cap gains in the Swiss franc against the Euro at a level of 1.20 to maintain price stability and support the domestic economy.

Meanwhile, the ECB and the OECD have confirmed that downside risks to Eurozone growth have intensified, and the market has begun to price in rate cuts. Concerns about a possible disorderly default by Greece remain high in investor’s minds, with press reports that Germany is acting to ring-fence its banks

Investors last week appeared to be reacting to the rising risk environment by boosting gold exposure and reducing (or shorting) cyclical assets.

ETFS Commodity ETP Weekly

Attachments:

WeeklyETC120911.pdf

537 Kb