Home Blog Market Analysis Weekly Market Analysis / 5 - 9 Juin 2023

Weekly Market Analysis / 5 - 9 Juin 2023

by Buse Kozok
Weekly Market Analysis /  5 - 9 Juin 2023

Last week, US nonfarm payrolls data followed. In addition, developments regarding the debt limit in the USA continued to have a large impact on global markets. Nonfarm payrolls in the US increased by 339,000 in May, above expectations. The unemployment rate was 3.7%, while average hourly earnings rose 0.3% to $33.44. An ounce of gold is priced at around $1,940 according to the data, so we can say goodbye to the $2,000 per ounce band for a short while as we will be following the data this week as well. While the US House of Representatives and then the US Senate approved the bill that will prevent the country from defaulting by increasing the debt limit, the bill, which foresees the suspension of the debt limit until January 1, 2025, will be submitted to the signature of US President Joe Biden for its enactment.


In this week's data, services PMI, foreign trade balance, inflation and growth in the Eurozone, growth and foreign trade balance in Japan, and foreign trade balance and inflation data in China will be followed

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