Home Blog Market Analysis Weekly Market Analysis / 17 - 21 April 2023

Weekly Market Analysis / 17 - 21 April 2023

by Buse Kozok
Weekly Market Analysis / 17 - 21 April 2023

Last week, we followed the inflation data in Germany and the USA in global markets. While the consumer price index in Germany increased by 0.8% monthly in March, annual inflation, which was 8.7% in February, decreased to 7.4% in March due to the fall in energy prices. In the USA, consumer price index increased by 0.1% monthly in March, below the expectations, while annual inflation decreased from 6% to 5%. Core inflation was 0.4% on a monthly basis, in line with the forecasts, while it continued to increase on an annual basis and became 5.6%. The producer price index in the USA, on the other hand, decreased by 0.5% monthly in March and increased by 2.7% on an annual basis, below the expectations. Global markets were mixed throughout the week. The ounce price of gold rose to $2,048.7 after rising after the US inflation and consumer price data, which came below the expectations. The gram price of gold, on the other hand, broke a record by rising to 1,320 liras due to the increase in the ounce and the depreciation of the TL. The rise in oil prices, which started to rise after OPEC's decision to cut production last week, continued this week as well. With the support of the tightening global market and the weakening dollar, the oil prices rose above $87 a barrel of Brent oil.

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