January 2020 Market Wrap

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Markets have adopted a cautionary tone in January. Deterioration of US-Iran relations, signing of the ‘Phase 1’ US-China trade deal, bushfire aftermath in Australia, and the UK finally leaving the EU have all paled in comparison to the impact that the coronavirus had on the global markets.

We begin the new year profiting from a few EURUSD straddles and realized major gains in the second half of the month from our XAU and JPY paired trades as demand for safe-haven assets soared. Sigma benefited from a strong rally in GBP and EUR towards the end of the month as well.

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