Home Blog Market Analysis Weekly Market Analysis / 10 october- 14 October 2022

Weekly Market Analysis / 10 october- 14 October 2022

by Buse Kozok
Weekly Market Analysis /  10 october- 14 October 2022

Last week, US non-farm employment data came to the fore in global markets. While non-farm employment in the USA increased by 263 thousand in September, above the expectations, the unemployment rate decreased from 3.7% to 3.5%. At the beginning of the week, the weak forecast data in the USA, the expectation that the Fed could reduce the rate of increase in interest rates, the downtrend in bond yields and the dollar index supported global markets. As of the middle of the week, sales in global markets were effective, while sales accelerated after the non-farm employment data, which was above the expectations today. The ounce gold price fell from $1,711 to $1,690. Oil prices, which rose after the news at the beginning of the week that OPEC+ considered an oil production cut of more than one million barrels a day at its meeting on October 5, accelerated its rise after OPEC+'s decision to cut 2 million barrels a day in oil production on Wednesday. It went up to over $97 today.

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