Weekly Market Analysis / 13 June- 17 June 2022

Last week, US inflation and the European Central Bank (ECB) interest rate decision came to the fore in global markets. The European Central Bank (ECB) did not change the interest rate in its meeting held on Thursday, in line with the expectations. It announced that it will end its asset purchase program on July 1. Indicating that a 25 basis point rate hike was evaluated in July, the Bank also predicted an interest rate hike in September. In May, annual inflation in the US hit 8.6%, the highest level since 1981. After the inflation data, which reached its highest level in 40 years, the US 10-year bond yield rose above the 3.10% limit due to the concerns that the Fed will continue its aggressive tightening policy and economic growth will slow down. An ounce of gold was priced between $1.825 and $1.875.