World central banks now cuttting rates. New liquidity up cycle in 2024. AIA weekly 1-6-24

Since August 2023, more central banks have been cutting rates rather than raising them.

This is mainly concentrated in emerging markets and smaller countries, but the trend is unmistakable. December had the most central banks cutting than raising rates in over a year. 

I expect the US and EU to start their cuts this year, which will, in my view, potentially lead to outperformance for gold and resource markets.