Home Blog Market Analysis Weekly Market Analysis / 5 September - 9 September 2022

Weekly Market Analysis / 5 September - 9 September 2022

by Buse Kozok
Weekly Market Analysis /  5 September - 9 September 2022

Last week, Eurozone inflation in global markets and non-farm employment data in the USA were the focus of the markets. Annual inflation in Germany, which was 7.5% in July, reached 7.9% in August, the highest level since 1974, with the rise in energy and food prices, which increased as a result of the Russia-Ukraine war. Inflation in the Euro Zone in August broke a record with 9.1% annually. This rise also strengthened the expectation of high interest rate hikes from the European Central Bank. Nonfarm payrolls in the US increased by 315,000 in August. The expectation was 300 thousand. After the data showing that the employment market remained strong despite high inflation, high interest rates and economic uncertainties, global markets followed a positive course. Despite starting the week with a premium, oil prices declined to 91.83 due to the concerns that aggressive interest rate hikes during the week would slow down the economies and decrease in demand.

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