Last week's financial markets were characterized by a mix of resilience, speculation, and divergent central bank signals. In the US, the narrative remained steadfast with Fed officials emphasizing a patient approach towards monetary policy, firmly pushing back against the market's eager anticipations for imminent rate cuts. This cautious did little to dampen the spirits of investors, who propelled S&P 500 past the landmark 5000 level for the first time, a testament to the enduring optimism surrounding US economy's resilience. The ascent of S&P 500 was coupled with slight uptick in 10-year yield. While Dollar Index made strides, reflecting some progress, the greenback's performance was notably middling when juxtaposed with its global counterparts. In Europe, Swiss Franc bore the brunt of the market's recalibrations, finding itself at the bottom of the performance ladder. This position was influenced by similar cautionary messages from ECB and BoE regarding premature rate cut expectations. Nevertheless, Euro and Sterling ended the week on a slightly softer note against others. Over to Asia, Japan presented a contrasting scenario, where a top BoJ official attempted to moderate expectations for aggressive policy tightening. This effort led to widespread sell-off in Yen, positioning it as the week's second weakest. But at the time same, Nikkei also soared to new 34-year highs, buoyed by anticipation of continued loose monetary policy. Commodity currencies emerged as the clear frontrunner amidst this global backdrop. New Zealand Dollar, in particular, stood out, riding high on the wave of speculation that RBNZ would implement further rate hikes. Australian Dollar, while also firming, trailed in the wake of RBA's noncommittal stance on future rate adjustments. Canadian Dollar, despite a fleeting post-employment data rally, settled into the third spot. | 