Home Blog Market Analysis Weekly Market Analysis / 22 August -26 August 2022

Weekly Market Analysis / 22 August -26 August 2022

by Buse Kozok
Weekly Market Analysis /  22 August -26 August  2022

In the last week, the UK and Eurozone inflation data and the meeting minutes of the US Federal Reserve (Fed) dated July 26-27 were followed in global markets. In England, consumer prices increased by 0.6% monthly in July, while annual inflation reached double digits for the first time since February 1982 with 10.1%, renewing the peak of 40 years. Annual inflation in the Euro Zone, which was 8.6% in June, reached a record level of 8.9% in July due to the rise in energy prices. In the minutes of the Fed's last meeting, it was emphasized that there was no evidence that inflation had decreased and that the rate of future rate hikes depended on the data, while it was emphasized that interest rate hikes would continue until inflation fell significantly. After the announcement, an ounce of gold depreciated from $ 1,802 to $ 1736. Global markets showed a mixed picture, having difficulty finding direction during the week.


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