Global Market Weekly Recap: 5 – 9 August 2024

Risk sentiment was one of the main drivers of price action for most of the week, although there were still instances where some major asset classes and currencies pulled away from the pack. On the one hand, central bank events and top economic updates highlighted divergence in interest rate expectations, spurring gains for currencies with more hawkish political biases. Geopolitical tensions also returned to the headlines, supporting crude oil higher on global supply concerns. How did your closely followed materials react to these events? Let’s break them down.