Voima Markets Newsletter—January 2023
Sam Laakso
Head of Voima Markets
Currency market table
| Gold price in | December | 3M | 2022 | 3Y | 5Y | 10Y | 20Y |
|---|---|---|---|---|---|---|---|
| CAD | 4.24% | 11.11% | 7.01% | 25.48% | 50.90% | 48.81% | 352.95% |
| USD | 3.16% | 11.71% | −0.22% | 20.26% | 40.07% | 8.96% | 425.76% |
| GBP | 2.80% | 5.91% | 11.56% | 31.77% | 56.41% | 46.33% | 600.11% |
| AUD | 2.76% | 4.91% | 6.30% | 23.90% | 60.35% | 66.17% | 332.97% |
| NOK | 2.73% | 5.40% | 11.00% | 34.21% | 67.20% | 91.88% | 643.24% |
| SEK | 2.35% | 5.48% | 14.89% | 33.70% | 77.75% | 74.51% | 529.95% |
| CHF | 0.84% | 3.15% | 1.12% | 14.87% | 32.90% | 10.02% | 251.65% |
| EUR | 0.31% | 3.17% | 5.96% | 25.93% | 56.96% | 34.29% | 415.73% |
| JPY | −2.01% | −1.51% | 13.68% | 45.18% | 63.00% | 64.70% | 481.47% |
The weakest currency of the month in December was the Canadian dollar (CAD).
Top news in the markets recently
Analysis: Blackstone REIT restriction a possible warning sign for markets (Reuters)
Bank of Japan stuns markets with yield control policy change (Financial Times)
Stocks fall to end Wall Street's worst year since 2008, S&P 500 finishes 2022 down nearly 20% (CNBC)
Trader's comment 4 January 2023
An extensive Voima Markets market commentary was released in late December, which takes a look at how inflation crises can turn into currency crises, why central banks are buying gold at a record pace and what it means, as well as what is gold's outlook in 2023. I encourage everyone who hasn't already read it to do so through the link below. Alternatively, you can check out a 5-minute YouTube summary video in which I go through the main topics of the article.
Full article: Voima Markets Market Commentary—December 2022
YouTube summary video: Voima Markets Market Commentary | December 2022
As we can see from the currency market table above, despite all the turbulence, gold was up against all major currencies in 2022, apart from the US dollar, against which gold was flat for the year.
How was your portfolio performance in 2022? And more importantly: Are you positioned for 2023?
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