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Weekly Economic Report 3.22.24

The global economic cycle appears ready for an upturn as central bank easing has begun – except in Japan where they finally exited negative interest rates. The Swiss National Bank started the cycle with a surprise ease this week, to take the edge off an appreciating Swiss Franc. Meanwhile, the Chinese yuan continued to decline, as the recent “two sessions” on economic policy failed to spark investor confidence. The still strong US dollar shows who is the leader of the pack, but improving flash ISMs around the world suggest that 2024 will be a year of global improvement due to lower rates.

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