 The financial markets concluded last week on a robust risk-on sentiment, driven primarily by the flurry of central bank activities. The stock markets, in particular, resonated with a bullish tone, cementing their position after Fed's dovish shift. This sentiment propelled key indices like the DOW, DAX, and CAC to new record highs. Despite a mild retreat towards the end of the week, these indices maintained their elevated levels, underscoring the market's positive response. In the currency markets, the US Dollar emerged as the weakest performer, significantly influenced by the Fed's projection of a cumulative 75 basis points rate cut for the next year. This shift in Fed's stance considerably affected Dollar's standing against its counterparts. While European currencies also gained against the Dollar, they lagged behind other major currencies. ECB's and BoE's resistance to the speculation of imminent rate cuts did not significantly impact market sentiments, as their messages appeared to fall on deaf ears. Japanese Yen stood out as the strongest currency and is poised for further near-term rally, heavily contingent on the upcoming BoJ policy decision. Australian Dollar led commodity currencies as the next strongest and could see a further rally if the risk-on sentiment persists. | 
