Weekly Analysis

Global markets experienced a sharp shift in sentiment this week following a landmark US Supreme Court ruling that struck down President Trump’s "reciprocal" tariffs.

Global markets opened the week in thin trading conditions as US markets remained closed for Presidents’ Day. The US dollar stayed under pressure, hovering just below the 97 level, following last week’s softer inflation data that reinforced expectations for Federal Reserve rate cuts later this year.

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.

Global markets began the week with the US dollar slipping toward 97, marking its weakest levels in four months. Heightened geopolitical risks and trade tensions, combined with speculation about the future leadership of the Federal Reserve, have pressured the US dollar.

Global markets began the week with the US dollar holding its ground near 99.3, on track for a third consecutive weekly gain. Strong US economic indicators, including resilient manufacturing and labor data, have pushed market expectations for initial rate cuts out to June or later.

Global markets faced a volatile week as institutional stability in the US was tested by a criminal investigation into Federal Reserve Chair Jerome Powell.

Global markets entered 2026 with the US dollar extending its sharpest annual decline in eight years, pressured by a shrinking yield advantage and uncertainty surrounding the new administration’s tariff agenda.

Global markets concluded the year with the US dollar hitting its weakest point since early October, as expectations for the Federal Reserve easing in 2026 intensified.