Labour Day (1 May 2024)

Global markets began the week with the US dollar under pressure, falling under 97.5 for a second consecutive session. The greenback’s decline was fueled by a combination of improved risk sentiment and expectations of stable Federal Reserve policy with potential rate cuts on the horizon. Investors remained cautious as they awaited a backlog of delayed US economic data, including employment and inflation figures.

The dollar index slipped to around 97.5 as delayed U.S. data due to the shutdown kept markets cautious, with investors expecting steady Fed policy until summer while risk appetite and Japan’s election added pressure against the yen.

Global food prices continued to fall at the start of 2026, with the FAO Food Price Index dropping 0.4% in January to 123.9 points. This marked the fifth consecutive monthly decline and the lowest level since August 2024, signaling a further easing in global food inflation pressures.