24 February 2026
Dollar Dips, EM Flips – Download Chart of the week
The Market Place – Download Market Data
- US tariff policy upheaval became the dominant macro driver, increasing uncertainty for global trade, corporate earnings outlooks, inflation trajectory, and Federal Reserve policy expectations.
- UK faces rising external and domestic pressures as US tariffs threaten exporters, trade negotiations intensify, refusal to support Iran strikes exposes allied divisions, and Labour instability increases political uncertainty.
- EU faces growing trade uncertainty from US tariff shifts, while stable ECB policy and modest manufacturing recovery support growth, alongside efforts to strengthen trade defences against rising Chinese competition.
- China’s trade position is improving despite tensions, Japan is deepening US economic alignment, and Ukraine’s military progress reinforces geopolitical uncertainty.
