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Global market sentiment continued improving this past week. On Wall Street, the Nasdaq 100, S&P 500 and Dow Jones gained 4.32%, 2.47%, and 1.81%, respectively. Across the Atlantic Ocean, the German DAX 40 gained 0.77%. Meanwhile, in the Asia-Pacific region, the Nikkei 225 and Hang Seng Index rose 3.12% and 5.15%, respectively.
Global financial conditions continue easing, helping restore liquidity in the market even though the Federal Reserve is still hiking rates and unwinding its balance sheet. As such, the US Dollar is feeling the pain and had another lackluster week – see the chart below. Gold prices have also been gaining, albeit momentum has faded over the past couple of weeks.
A notable standout last week was the Australian Dollar. Higher-than-expected fourth-quarter inflation boosted hawkish RBA…