Home Blog Market Analysis Weekly Market Analysis / 2 - 6 October 2023

Weekly Market Analysis / 2 - 6 October 2023

by Buse Kozok
Weekly Market Analysis /  2 - 6 October 2023

Last week, German and Eurozone inflation and UK and US growth data were followed in global markets. While the consumer price index in Germany increased by 0.3% monthly, below expectations, in September, annual inflation decreased to 4.5%. While the consumer price index in the Eurozone increased by 0.3% monthly in September, annual inflation, which was 5.2% in August, was 4.3% in September. The UK economy grew by 0.2% in the second quarter, in line with expectations. The US economy grew by 2.1% in the second quarter of this year, in line with expectations. Global markets followed a mixed course last week as the effects of the Fed's hawkish statements continued and the risk of a government shutdown increased due to the fact that the US Congress has not yet reached an agreement on the new budget that will finance the federal government in the United States. The US 10-year bond yield rose to its highest level since September 2007 at 4.688% during the week. The sales in gold ounces started with this and we are following the same decline as we start this week. Fed statements are very clear, US data is positive, it looks like ounces of gold will not make us happy for a while.

Related Posts