Commodity ETP Weekly – Risk aversion sees oil and gold prices diverge
Brent trades at its biggest discount to WTI. Gold safe haven status reignited. Coffee ETPs receive their highest inflows since July 2015.
Bargain hunters continue to drive flows into energy ETPs, extending last year’s trend for a second week in 2016 despite the oil price slide.
Gold ETPs flows hit 9-week high at the start of 2016 as uncertainty over global markets looms.
Coffee ETPs flows garner momentum after International Coffee Organisation raised estimates for global production shortfall.
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Brent trades at its biggest discount to WTI. WTI and Brentcrude oil prices have fallen to fresh 12-year lows below US$29/bbl this week. Brent, the North Sea crude used as an international benchmark, has fallen faster than WTI and is trading at its biggest discount to the US benchmark since 2010. The lifting of oil sanctions against Iran this weekend mounted pressure on Brent prices as investors contemplated the effects of rising Iranian exports in an already over supplied oil market. Despite the precipitous oil slide, bargain hunters remained undeterred, driving inflows of US $26.9mn into long Brent ETPs – the highest level since February last year and inflows US $45.6mn in long WTI crude ETPs are at the highest level in 8 weeks.
Gold safe haven status reignited. Gold ETPs recorded their highest inflows in 9 weeks , amounting to US $17.6mn. We believe the simplest explanation for this has been the global stock market rout, exacerbated by Friday’s oil price declines, which renewed gold’s appeal as a safe haven asset. Another key point to highlight is the ripple effect that a lower sticky inflation outlook could have on the Fed’s ability to raise rates in the US this year. Persistently low oil prices could lower the future rate profile compared to the current FOMC dot plot, encouraging a weaker dollar and thereby making gold priced in dollars cheaper to buy. By virtue of oil being a vital part of inflation forces, and given the recent oil price slide subsequent lower inflation would also reduce the need for gold as a hedge against inflation. However, in the current environment, gold’s defensive properties are driving price performance. Gold has posted gains of 1.43% last week highlighting gold’s resilience at a time when market uncertainty is at the highest levels since the global equity correction in September 2015.
Coffee ETPs receive their highest inflows since July 2015. ETFS Coffee (COFF) recorded flows of US$3.5mn after the International Coffee Organisation (ICO) hiked estimates for the global production shortfall this season held back by a weaker harvest in Brazil. In its forecast for the output for 2015-16, the ICO expects the first growth in production in three years. Nonetheless, the ICO forecast a deficit for a third successive season.
Key events to watch this week. After a torrid week in financial markets all eyes will be glued on China’s GDP report due to be released on Tuesday for any signs of respite from the ongoing sell off. Friday sees the release of the US inflation data, a key ingredient to the FOMC’s rate policy formulation and the USD, a key driver of commodity prices. The European Central Bank meets on Thursday and consensus remains for rates to be left unchanged. The Canadian Dollar’s decline to a 12-year low coupled with sliding oil prices may force the Bank of Canada to take further action when they meet on Wednesday.
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Timmer och skogar är garanter för att mildra klimatförändringarna och en naturlig träkälla. Skogarna täcker stora landområden, utgör en oumbärlig åtgärd för att minska koldioxidutsläppen och är de främsta producenterna av syre. Det finns även börshandlade fonder för den som vill investera i skogen.
Detta ger möjligheter för företag som äger skog eller är inblandade i skogsskötseln. Träförädlingsindustrin är också en del av denna trend, liksom börsnoterade skogsfonder i form av REITs (Real Estate Investment Trusts). Dessa företag kan användas för att skapa ett index.
I den här investeringsguiden hittar du alla ETFer som gör att du kan investera i skogen. För närvarande finns det ett index tillgängligt spårat av två olika ETFer som båda har en årlig förvaltningskostnad på 0,65 procent.
Skogs-ETFer i jämförelse
När man väljer en ETF för skogsbruk bör man överväga flera andra faktorer utöver metodiken för det underliggande indexet och prestanda för en ETF. För bättre jämförelse hittar du en lista över alla skogs-ETFer med detaljer om namn, kortnamn, kostnad, utdelningspolicy, hemvist och replikeringsmetod. För ytterligare information om respektive börshandlad fond klicka på kortnamnet för att ta del av allt vi skrivit om dessa.
Namn ISIN
Kortnamn
Avgift %
Utdelningspolicy
Hemvist
Replikeringsmnetod
iShares Global Timber & Forestry UCITSETF IE00B27YCF74
Global X Telemedicine & Digital Health UCITSETFDist GBP (EDOG ETF) med ISIN IE00BLR6QC17, försöker följa indexet Solactive Telemedicine & Digital Health. Solactive Telemedicine & Digital Health-index spårar företag över hela världen som är verksamma inom området telemedicin och digital hälsa.
Den börshandlade fondens TER (total cost ratio) uppgår till 0,68 % p.a. Global X Telemedicine & Digital Health UCITSETFDist GBP är den billigaste ETF som följer Solactive Telemedicine & Digital Health-index. ETFen replikerar det underliggande indexets prestanda genom fullständig replikering (köper alla indexbeståndsdelar). Utdelningarna i ETFen delas ut till investerarna (halvårsvis).
Global X Telemedicine & Digital Health UCITSETFDist GBP är en mycket liten ETF med tillgångar på 0 miljoner euro under förvaltning. Denna ETF lanserades den 17 december 2020 och har sin hemvist i Irland.
Skäl att överväga EDOG
Hög tillväxtpotential: Den globala telemedicinmarknaden ökade med 35 % från 2019 till 2020 och översteg 55 miljarder dollar. Prognoser tyder på att marknaden kan nå nästan 300 miljarder dollar år 2028 (Källa: ”Telemedicine Market Size, Share & Trends Analysis Report By Component” Grand View Research, februari 2021).
Strukturella medvindar: Under 2019 saknade uppskattningsvis hälften av världens befolkning nödvändig hälsovård. När mer underbetjänade marknader får tillgång till bredband erbjuder telemedicin stora möjligheter att överbrygga klyftan (Källa: World Economic Forum).
Nya konsumentinställningar: Pandemin ökade antagandet av digitala hälsotjänster, med många vänder sig till telemedicin för första gången, vilket påskyndade temats räckvidd.
Like Bitcoin, Dogecoin uses a proof-of-work (PoW) consensus mechanism but runs on its own blockchain, originally forked from Litecoin. It uses the Scrypt hashing algorithm, which is less resource-intensive than Bitcoin’s SHA-256, making mining more accessible to everyday users with consumer-grade hardware. Due to merged mining with Litecoin, Dogecoin benefits from shared infrastructure, with hashpower recently reaching all-time highs of 2.7 petahashes (quadrillion hashes) per second, making the network increasingly difficult to attack.
Dogecoin’s design is built for speed and utility, has no maximum supply, and confirms blocks every minute (10x faster than Bitcoin). Moreover, it maintains ultra-low transaction fees, which is ideal for tipping, microtransactions, and everyday use.
More than a meme
Although its supply is technically unlimited, Dogecoin’s issuance model is clear and predictable. Approximately 10,000 DOGE are mined every minute, adding up to around 5.25 billion new tokens each year. As the supply base expands, this fixed issuance creates a natural disinflationary trend that has cut nearly in half over the past decade while ensuring network security through consistent miner rewards.
Dogecoin’s technology fosters an aligned ecosystem between users and miners. With sustainable economic incentives, it acts as a kind of “retail Bitcoin”, built not just for hoarding but for real-world use, too.
While Dogecoin began as a lighthearted experiment, its evolution has proven it to be far more than a meme. Thanks to its speed, low fees, and strong community backing, Dogecoin has grown into a functional digital currency with a range of real-world use cases. From payments and merchant adoption to infrastructure development and charitable giving, Dogecoin continues to demonstrate its staying power as a practical and accessible tool in the broader crypto ecosystem.
Dogecoin as a payment tool
Dogecoin has transformed into a widely accepted digital currency, embraced by major brands like Tesla, AMC, Newegg, and the Dallas Mavericks. With fast transaction speeds and low fees, even amid surging transaction volumes, it has become a practical option for everyday payments. Crypto payment processors like BitPay have further expanded its reach, enabling thousands of merchants worldwide to accept DOGE. Most recently, The Open House Group, a prominent Tokyo Stock Exchange-listed real estate firm, added Dogecoin to its supported list, making it one of the few digital assets accepted for property transactions.
Enhancing Dogecoin’s payment infrastructure
Initiatives like Dogebox and GigaWallet are simplifying DOGE integration for businesses, while its scaling solution, Laika, is making meaningful progress in improving transaction speed and reducing costs.
Meanwhile, RadioDoge is working to expand access by enabling offline transactions in remote regions through low-cost radio and Starlink technology, advancing global crypto inclusion. A rumored integration with Elon Musk’s X platform could extend Dogecoin’s utility across digital tipping and commerce. These efforts collectively reinforce Dogecoin’s growing relevance in real-world payments and its potential as a frictionless, decentralized transaction layer.
Do Only Good Every Day
As we’ve seen, community drives memecoins, and Dogecoin’s community shines the brightest. This global network not only thrives on memes but also channels that energy into social good. From funding clean water in Kenya to sending Jamaica’s Bobsled Team to the Olympics and raising over $1 million for Ukraine relief, DOGE’s community transforms internet culture into real-world impact. Low fees and fast transactions make it a favorite for grassroots giving, showing a coin born as a joke can leave a lasting legacy. Dogecoin is more than a digital asset—it’s a movement powered by a community that believes in doing good every day.
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