We hope that you all feel well at home and that you can enjoy a well-deserved vacation.
The month of July ends with a week in which the European stock markets have receded considerably, losing the ground gained to other geographical areas. The world stock markets have risen around 4% during the month of July, supported by the actions of the central banks. The most notable development in the foreign exchange market has been the continued devaluation of the dollar, while the Australian dollar has continued its revaluation. As we have been telling you over the past few weeks, the economic scenario is complicated and the relative euphoria of the stock markets requires caution.
In this environment our portfolios have risen this week, ending the month without major changes. It might seem that little is happening, but on the contrary, there has been a lot of movement this week and the closed profit for the month is substantial. This means that the portfolio’s potential remains very high. Right now there are very good opportunities in quite a few currency pairs. Rarely have we seen so many good opportunities together.
We’ll leave you in peace for the next two weeks. We’ll be back with the weekly comments from the third week of August.
We are at your disposal for anything you may need.
This document is provided for informational purposes only and cannot be considered in any case as a contractual element, a recommendation, personalized advice or an offer. Nor can it be considered as a substitute for Key Information Document (KID) or any other mandatory legal information that should be consulted prior to any investment decision. In case of discrepancy, the legal information prevails. All this legal information is available at the offices of Grantia Capital SGIIC, SA and on its website: www.grantiacapital.com