Adam Button
Monday, 31/07/2023 | 18:55 GMT-0
31/07/2023 | 18:55 GMT-0
In late-June I highlighted that seasonals for inventory markets had been sturdy for July and that is precisely what happened, together with a 13-day rally in Dow Jones Industrial Common.
That chapter is closing and it is time to flip the web page to August so listed below are some seasonal highlights:
- Worst month for the German DAX
- Worst month of the yr for AUD/JPY (by far) and the yen is mostly sturdy
- Worst month for AUD/USD
- Worst month for copper
- EUR/USD impartial
- Second-best month for gold
- Second worst month for Nikkei
- Impartial for the Nasdaq
- Worst month for NZD/USD
- Fourth-worst month for the S&P 500
- Greatest month for 10-year bonds (i.e. falling yields)
- Worst month for USD/JPY, although the pair was sturdy final yr
Trying additional forward, final yr may very well be instructive. Inventory markets rallied by means of mid-August earlier than peaking on 16th adopted by a pointy reversal. September is the worst month for the S&P 500 and likewise begins a three-month run of seasonal weak spot for oil.
