Last week, US growth data and the last meeting minutes of the US Federal Reserve (Fed) were followed in global markets. The US economy contracted by 1.5% in the first quarter of the year, despite increasing spending by consumers and companies. In the minutes of the Fed's last meeting, it was emphasized that Fed members decided that a 50 basis point increase in the target range would be appropriate in the next few meetings. Global markets followed a positive course with less hawkish messages in Fed minutes than expected. Ounce gold followed a horizontal course as a result of messages from the Fed. It rebounded after a steep fall the previous week, priced at $1,846-$1,853 above $1,800.
Weekly Market Analysis / 30 May - 03 June 2022
