Market Year Wrap 2025 with Gary Thomson: Key Highlights and Outlook for 2026

2025 was a year defined by policy shocks, geopolitical risk, and strong divergence across asset classes. From renewed trade wars to record-breaking equity and commodity moves, markets were repeatedly forced to reprice macro assumptions. Let’s recall the most critical events that had an impact across FX, equities, and commodities.

📌 Key Highlights:

✔️ FX Markets: Currency pairs were highly volatile throughout the year as persistent recession fears, weak and uneven macro data, contradictory monetary policy signals, and rising geopolitical tension triggered significant price swings.

✔️ Equities: US equities experienced sharp volatility during the year. In April 2025, the implementation of broad tariffs triggered a large sell-off, marking the largest decline since the COVID crash of 2020. Despite this, equities recovered strongly. Expectations of easier monetary policy and resilient corporate earnings pushed major indices to record levels by year-end.

✔️ Commodities: Precious metals were among the strongest performers of the year. Energy markets told a different story. Policy decisions and geopolitical dynamics played a central role across the markets. 👉🏻 Stay informed and ahead of the market with us!

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