The best-performing ETFs this week focused on the commodities sector.
Funds indexed to grains and corn prices rallied on the U.S. heat wave and droughts in the Midwest. Elsewhere in commodities, energy ETFs were volatile this week along with oil prices. Gold, silver and precious metal ETFs were lower as the U.S. dollar strengthened. Also in currencies, euro ETFs were weak after the European Central Bank cut interest rates.
There were pockets of strength in some equity sector ETFs. For example, homebuilder and biotech ETFs are enjoying multiyear breakouts.
In the coming week’s economic data, look for reports on import and export prices, consumer credit and sentiment, the trade deficit, federal budget, producer prices and the minutes from the latest Fed meeting.