Weekly Market Analysis 17/07/2023

Last week, German and US inflation data came to the fore in global markets. In Germany, consumer price index increased by 0.3% monthly in June, while annual inflation, which was 6.1% in May, rose to 6.4% in June. In the USA, consumer price index increased by 0.2% monthly in June, while annual inflation was realized as 3%, below the expectations. This was the lowest level since March 2021. Core inflation, excluding food and energy, was 0.2% monthly and 4.8% annually. The producer price index in the USA increased by 0.1% in June, below the expectations, and increased by 0.1% on an annual basis. A positive trend was observed in global markets, with producer inflation falling below expectations after consumer inflation in the USA. Ounce gold maintains its upward momentum, managed to hold above $1.920