Home Blog Market Analysis Weekly Market Analysis / 25 April- 29 April 2022

Weekly Market Analysis / 25 April- 29 April 2022

by AgaBullion
Weekly Market Analysis /  25 April- 29 April 2022

In global markets, we leave behind a week in which Euro Zone inflation and the statements of the Chairman of the US Federal Reserve (Fed) Powell came to the fore. At the beginning of the week, oil prices were on the rise with the possibility of heavier sanctions on Russia, the leading oil exporter, as a result of the deepening of the Ukraine crisis, while Brent oil was priced at  $ 115 limit. In March, inflation in the Euro Area was 2.4% monthly and 7.4% annually. Powell stated that since inflation is well above the Fed's 2% target, it would be appropriate for the Bank to act a little faster and a 50 basis point rate hike would be on the table at the May meeting. Powell's hawk statements caused sales in global markets. An ounce of gold was also affected by these sales and declined from $1,998 to $1,926. It is priced at $1,915 in the morning today.

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