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Year of Extremes: 2024 Market Review by Global Broker Octa
After holding borrowing costs near record highs for most of 2023, almost all major central banks started to cut rates in 2024. However, the pace of interest rate reductions varied, leading to a divergence in monetary policy expectations between different economies, which, in turn, resulted in notable exchange rate fluctuations among major currencies.
On a negative note, however, 2024 has been a year of lingering political uncertainty and geopolitical instability. Although investors learned to coexist with the simmering conflicts in Eastern Europe and the Middle East, a sense of underlying unease persisted. Adding to this sense of anxiety is the changing political landscape.
Indeed, numerous elections took place in tens of countries around the world in 2024. Investors were particularly concerned about the parliamentary elections in France, the general elections in the United Kingdom, and the presidential and congressional elections in the United States. The market still feels the effect of these elections, with traders and investors anticipating major changes in economic policies and trying to front-run their impact on global assets.
The U.S. Dollar (USD) has been the best-performing currency in 2024 among the 20 global currencies that Octa Broker tracks. From 29 December 2023 to 13 December 2024, the U.S. dollar index (DXY), which measures the value of the greenback against the basket of six foreign currencies (the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc) rose by almost 6%. However, the index has undergone substantial fluctuations over the course of the year. Kar Yong Ang, a financial market analyst at Octa Broker, explains: ‘The dollar index has been on a rollercoaster ride in 2024, soaring to new multi-month heights and plummeting to fresh multi-month lows. Although the greenback looks like the best-performing currency in 2024 so far, the lion’s share of its appreciation occurred during the latter part of the year and has been mostly driven by expectations for a major shift in U.S. trade policy.’
Indeed, the market is concerned that Donald Trump’s proposed immigration and trade policies could have inflationary consequences, prompting the Federal Reserve (Fed) to adopt a less dovish monetary policy. As a result, the divergence in investors’ monetary policy expectations between the Fed and other major central banks has widened, leading to higher capital inflows into the U.S. dollar. Furthermore, the U.S. economy has been outperforming other advanced economies in 2024 and is expected to continue to do better than the rest in 2025 as well. According to the International Monetary Fund (IMF), real gross domestic product (GDP) growth of advanced economies in 2024 will average just 1.8%, whereas the U.S. GDP is projected to expand by 2.8%.
Because the dollar advanced higher, most major currencies are poised to conclude the year with negative performance. The only exception is the British pound, which is anticipated to finish the year virtually unchanged compared to 2023. ‘The relative strength of the U.S. dollar is only one of many reasons why most other major currencies underperformed in 2024. Other factors, however, are specific to individual countries and a major bearish factor this year specifically has been the lack of political certainty, which currencies do not like,’ says Kar Yong Ang, a financial market analyst at Octa Broker. Indeed, EURUSD, the most liquid and widely traded foreign exchange (Forex) pair in the world, has been weakened by political uncertainty in the eurozone’s largest economies—France and Germany—where political stalemate led to high-profile resignations and early elections. Likewise, when the U.K. Prime Minister Rishi Sunak called a snap parliamentary election, GBPUSD experienced one of the biggest one-day declines of 2024. Moreover, the sluggish growth in the eurozone and the U.K. has prompted investors to anticipate additional rate cuts from both the European Central Bank (ECB) and the Bank of England (BoE). In contrast, the Fed is expected to slow down its easing cycle, further widening the interest rate differential between the U.S. dollar on the one hand and the euro and sterling on the other.
Despite its safe-haven status, the Japanese yen (JPY) was the most volatile currency among the majors. Three-month implied options volatility for the yen, a measure of trader hedging demand, averaged around 9.73% in 2024, whereas the total average across seven major currencies was 7.46%. ‘USDJPY traders have had a wild ride in 2024. It has been a total rollercoaster, to be honest. I think fortunes were made and lost here very quickly. This outgoing year has been truly historical for the JPY,’ says Kar Yong Ang, a financial market analyst at Octa Broker. Indeed, during the year’s first half, the bullish dollar momentum has propelled the pair to a multi-decade high. Then, as rumours of potential intervention by Japanese authorities to bolster the yen began to spread, the USDJPY pair started to decline. A massive sell-off accelerated in late July after the Bank of Japan (BoJ) raised interest rates to 15-year highs and announced details on how it will reduce its huge bond buying. Kar Yong Ang explains: ‘At that time, it looked like BoJ was taking a surprisingly hawkish stance. Its decision really shook the markets and caused investors to reassess popular JPY carry-trades.’
The commodities’ performance varied greatly, and each deserves a separate story to tell, but coffee, lithium, gold, and silver have certainly been the biggest stories in 2024.
Just recently, the prompt-month futures contract of arabica coffee traded on Intercontinental Exchange (ICE) hit an all-time high. It is up some 70% year-over-year (y-o-y), which makes it the best-performing commodity in 2024 among 20 other commodities that Octa Broker tracks. ‘Like many other soft commodities, both arabica and robusta coffee futures are almost entirely driven by the whims of the weather. This year, Brazil, [the world’s largest coffee producer], experienced its worst drought in 70 years, whereas Vietnam, [another key producer] was faced with both drought and heavy rainfall,’ says Kar Yong Ang, a financial market analyst at Octa Broker. Indeed, according to official customs data, Vietnam’s coffee exports in the first half of this year were 893,820 metric tons, down 11.4% from a year earlier. Traders are very much concerned about the 2025 global crop outlook, and prices have reflected these worries.
In contrast, lithium has been the worst-performing commodity in 2024 as the sale of electric vehicles (EV) started to level off while capital investments from previous years boosted production capacity and led to oversupply. According to Refinitiv, the price of Lithium Hydroxide futures contracts traded on the Commodity Exchange (COMEX) was down 42.3% y-o-y as of December 13, 2024.
As for precious metals, 2024 has been a record-setting year, especially for gold. The price for the yellow metal has been setting a new all-time high essentially every month in 2024. Kar Yong Ang, a financial market analyst at Octa Broker, outlines three main factors that have contributed to such a meteoric rise in gold prices. ‘It all boils down to three sources of demand: safe-haven demand due to intensifying geopolitical tensions, investor demand due to less tight monetary policy globally, and structural demand from global central banks as part of de-dollarization and diversification efforts.’ As many times before, gold has once again proved its underlying value as a protective asset during times of uncertainty and may continue to shine in the months ahead. Although the price of silver did not set any new records, its y-o-y performance was even more impressive than that of gold: +28.6% (as of December 13).
‘Perhaps surprisingly, but despite growing geopolitical tensions, crude oil prices went down annually. This is mostly because non-OPEC members—notably, the U.S.—have managed to increase production but also because investors were worrying about the health of the Chinese economy, the main importer of crude oil,’ says Kar Yong Ang, a financial market analyst at Octa Broker.
2024 also witnessed significant developments in the cryptocurrency market, particularly for Bitcoin. On March 8, its price set a new all-time high of $70,000. On 5 December, it finally managed to achieve another key milestone of $100,000 per coin. However, Bitcoin was not the best-performing digital coin of 2024. The price of Doge has increased four-fold. Most of the gains in the crypto sphere were in response to Donald Trump’s victory in the U.S. presidential elections. Such a favourable market reaction to Trump’s victory stems from investors’ belief that his Administration, coupled with a friendly Congress, will effectively deregulate the crypto industry, facilitate its expansion, and implement a coherent regulatory framework that will serve investors and consumers for years to come. ‘It should be said, argues Kar Yong Ang, that this belief is not without foundation. Trump has managed to lure many crypto fans to his side with his bold moves, clear views, and a strong focus on deregulation.’
Overall, 2024 has been a year of uneven economic growth and significant political shifts. While central banks successfully addressed inflationary pressures globally, diverging monetary policies led to notable currency fluctuations. At the same time, geopolitical tensions have been on the rise, while political uncertainty persisted.
The U.S. dollar emerged as the strongest currency, driven by a strong U.S. economy, a tightening monetary policy stance, and expectations of potential policy shifts. Other major currencies, such as the euro and the British pound, faced headwinds from economic sluggishness and political instability.
In the commodity markets, 2024 was a year of extremes. While arabica coffee prices soared to record highs due to supply shortages, lithium prices plummeted as oversupply concerns mounted. Precious metals, particularly gold, experienced a remarkable surge, driven by safe-haven demand, easing monetary conditions, and central bank buying.
Meanwhile, the main crypto coins broke new records and seem to be poised for major transformations in 2025.
Hashtag: #Octa
The issuer is solely responsible for the content of this announcement.
Octa
Octa is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.
The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.
In the APAC region, Octa received the ‘Best Trading Platform Malaysia 2024’ and the ‘Most Reliable Broker Asia 2023’ awards from Brands and Business Magazine and International Global Forex Awards, respectively.
On its 30th Anniversary, Zoho Corporation exceeds milestone of 150 million users
SINGAPORE – Media OutReach Newswire – 5 March 2026 – Zoho Corporation, a global technology company, today marked its 30th anniversary with the announcement of two major company milestones. Zoho Corporation, consisting of Zoho, ManageEngine, Qntrl, and TrainerCentral, is now a trusted technology provider to more than one million paying customers and more than 150 million users globally. Today’s announcement follows significant YoY customer (32%) and revenue (20%) growth in 2025.
Zoho Corporation would foremost like to thank every one of its customers, big and small, whose loyalty and support has had an outsized impact on the company’s foundation, growth, and future success. To honor that commitment, Zoho Corporation is shining a light on a few dedicated customers, whose success it is proud to have helped support.
“‘What made us stick with Zoho for so long is consistency and trust. Zoho continues to invest in its platform with a clear long-term vision, not short-term trends. The products are stable, well integrated, and designed to support real business needs, which allows us to confidently recommend Zoho to our clients year after year,” said Alexon Garcia, Technical Delivery Manager, Devtac, Philippines. “As Zoho turns 30, we would like to thank the people building the products. Your focus on privacy, value, and practical innovation truly sets Zoho apart in the market. It shows that the company is built for the long run and not driven by hype.”
“For almost a decade of using Zoho Desk and Zoho SalesIQ, we have seen a huge improvement in the way we handle tickets and access reports, enabling our team to make faster, data-driven decisions. Over time, Zoho has naturally become an integral part of our daily operations because it is easy to use, reasonably priced, and continues to evolve based on real feedback from its users. A big thank you to the Zoho team for building such a powerful SaaS platform—we look forward to continuing to grow together in the years to come,” said Wildan Zubaidi, VP of Customer Experience, PT Biznet Gio Nusantara, Indonesia.
“During periods of rapid business expansion and operational complexity, particularly when organizations needed to move from fragmented systems to integrated digital platforms, Zoho played a critical role. Solutions such as Zoho CRM, Creator, Analytics, and Finance applications enabled faster decision-making, improved visibility, and operational resilience, especially during times of disruption and digital transformation. These moments reinforced Zoho’s value not just as a software provider, but as a strategic enabler,” said Henry Soo, Founder, DataDevelop Consulting Ltd., Hong Kong.
Recent customers to Zoho Corporation include: In the United States, Rapid Response Monitoring and Synergy Home Care; In India, Mercedes-Benz India, Force Motors, Joyalukkas and Union Bank of India; in the UK/European Union, Flora Food Group, Handl Tyrol and Atout France; in Middle East-Africa, Al-Ahli Saudi FC and Al Qadsiah FC; in LATAM, Grupo Gonher; and in Brazil, Creditas and Editora Globo.
“Being bootstrapped, private, and built entirely in-house makes Zoho an outlier among competitors,” says Sridhar Vembu, Co-founder and Chief Scientist, Zoho Corporation. “But vendors don’t need our help, businesses do, which is why delivering customer value has, for 30 years, been Zoho Corporation’s North Star. Before any innovation, strategy, or guiding principle becomes a product, pivot, or policy, it must first affirm the question, ‘Will this help businesses?’ We are incredibly grateful that companies around the world have responded so positively to our customer-first approach over the past three decades, and will continue to meet the evolving needs of businesses with powerful, scalable, and affordable solutions.”
To learn more about the unique growth stories of Zoho Corporation’s customers over 30 years, visit here.
Hashtag: #ZohoCorporation
https://www.zoho.com
https://www.linkedin.com/company/zohoapac
The issuer is solely responsible for the content of this announcement.
About Zoho Corporation
With 60+ apps in nearly every major business category, Zoho Corporation is one of the world’s most prolific technology companies. Zoho is privately held and profitable with more than 19,000 employees globally with headquarters in Austin, Texas and international headquarters in Chennai, India. Zoho APAC HQ is located in Singapore. For more information, please visit: www.zoho.com/
Zoho respects user privacy and does not have an ad-revenue model in any part of its business, including its free products. The company owns and operates its data centers, ensuring complete oversight of customer data, privacy, and security. More than 150 million users around the world, across hundreds of thousands of companies, rely on Zoho everyday to run their businesses, including Zoho itself. For more information, please visit: https://www.zoho.com/privacy-commitment.html
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Southco’s New Heavy-Duty Rotary Latch Simplifies Cab Access While Enhancing Operator Safety
The new R4-50 Rotary Latch provides the heavy-duty performance that modern machinery demands, to tackles vibrations, safety-risking accidental releases, and complex access delays in rough environments.
Engineered for demanding conditions, the R4-50 delivers:
- Independent interior and exterior actuation – making it easier and safer to enter and exit equipment cabs.
- A pre-loaded interior hand lever – purpose-built for high-impact environments, reducing noise and vibration while ensuring smoother, more reliable operation.
- Accidental actuation prevention – minimizing unintended movement to keep operators secure and equipment protected.
- Flexible release options – including remote actuator connection via cable or rod, or direct push release, to meet different cab design needs.
Southco’s R4 Rotary Latch series is highly durable, and is available in a variety of configurations that meet customer needs with little to no modification, including compact mechanical and electromechanical designs made of durable materials suitable for any environment. R4-50 Rotary Latches with Dual Triggers are compliant with FMVSS 206 impact standards, IP65 dust and water intrusion standards, EN 45545-3 fire protection standards, as well as applicable vibration standards.
As a heavy-duty upgrade to Southco’s trusted R4 Rotary Latch line, the R4-50 with Dual Triggers combines operator safety, rugged durability, and simplified access in one cost-effective system. The latch is also compatible with Southco AC actuators, offering OEMs a low-investment, high-value option for enhancing their cab entry solutions.
Global Product Manager Cynthia Bart adds, “The new R4-50 Rotary Latch with Dual Triggers offers a complete, highly versatile cab door entry system for use in heavy-duty construction and agricultural vehicles. The latches are compatible with Southco AC Actuators, allowing designers to quickly and affordably upgrade their existing designs.”
For more information about the functionality of R4-50 Rotary Latches, please visit southco.com or email the 24/7 customer service department at in**@*****co.com
Hashtag: #Southco
The issuer is solely responsible for the content of this announcement.
About Southco
Southco, Inc. is the leading global designer and manufacturer of engineered access solutions. From quality and performance to aesthetics and ergonomics, we understand that first impressions are lasting impressions in product design. For over 75 years, Southco has helped the world’s most recognized brands create value for their customers with innovative access solutions designed to enhance the touch points of their products in transportation and industrial applications, medical equipment, data centers and more. With unrivalled engineering resources, innovative products and a dedicated global team, Southco delivers the broadest portfolio of premium access solutions available to equipment designers throughout the world.
Media OutReach
DBS Hong Kong collaborates with Know Your Customer Limited to further improve digital account opening for SMEs
Leveraging Know Your Customer’s cutting-edge digital compliance platform, DBS Hong Kong will gain real-time access to comprehensive business verification data — including instant retrieval of official company documents and automatic identification of complex ultimate beneficial ownership (UBO) networks across more than 140 jurisdictions.
This AI-powered automation addresses the traditionally manual and cumbersome SME onboarding processes by streamlining the end-to-end business KYC process, efficiently verifying corporate structures and ownership, reducing manual effort and accelerating onboarding timelines. The result is significantly enhanced operational efficiency and a faster, more seamless onboarding experience for DBS Hong Kong’s business customers.
[Lareina Wang, Head of SME Banking, DBS Bank Hong Kong] said,
” At DBS Hong Kong, we are dedicated to reimagining the customer onboarding experience through continuous digital innovation. By engaging Know Your Customer, we leverage advanced technology to streamline CDD workflows, delivering faster service to our customers. This collaboration also represents a major advancement in automating SME onboarding processes that have historically been complicated and manual, solidifying SME banking position of DBS in the market of Hong Kong. “
Claus Christensen, CEO and Co-Founder of Know Your Customer, added,
“Our service provided to DBS Hong Kong exemplifies how financial technology can simplify complex onboarding challenges. With our global data coverage and AI-powered automation, we empower DBS Hong Kong to accelerate KYC processes and provide business customers with an unrivalled onboarding journey. Together, we are shaping the future of digital banking.”
In recognition of its visionary digital strategy, DBS Hong Kong was named Asia’s Best Digital Bank in 2025 by Euromoney. The bank also continues to lead digital innovation, evidenced by over 70% of Hong Kong SMEs already integrating or exploring AI and digital technologies as part of their operations, according to its recent SME survey.
This transformative collaboration underscores DBS Hong Kong’s unwavering commitment to innovation and delivering safe and trusted digital onboarding solutions in Asia’s rapidly evolving financial landscape.
Hashtag: #KnowYourCustomer
The issuer is solely responsible for the content of this announcement.
About DBS Bank (Hong Kong) Limited
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “
World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 17 consecutive years from 2009 to 2025. In 2026, DBS won the “Triple A award – Best Digital Customer Onboarding Experience – Hong Kong”
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
About Know Your Customer Limited
Know Your Customer Limited is an award-winning RegTech company specialised in next-generation business verification solutions for financial institutions and regulated organisations worldwide. For teams struggling with inefficient client due diligence and onboarding processes, Know Your Customer offers an intuitive digital compliance workspace that combines unmatched real-time registry data, covering over 140 countries, seamless integrations, and AI-powered smart automation. This streamlined approach transforms the compliance function at its core, allowing customers to customise their solutions by selecting only the functionalities they need, all accessible via a robust REST API.
Founded in Hong Kong in 2015, with a local presence in Singapore, Dublin, London, and Shanghai, Know Your Customer has built a global customer base across 11 verticals and 18 jurisdictions. The company also maintains a wide network of technology and data partners, ensuring high-quality entity data and enhanced compliance processes for its customers.
For more information visit https://knowyourcustomer.comor follow Know Your Customer Limited on 
LinkedIn or 
X.
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