Last week, Euro Zone inflation, US non-farm payrolls, and Fed Beige Book report were followed in global markets. In May, consumer prices in the Eurozone rose by 0.8% month-on-month, breaking a record of 8.1% year-on-year, exceeding expectations. In the Fed “Beige Book” report released on Wednesday, it was stated that the majority of 12 Fed regions pointed to mild or moderate growth, while the growth rate of 4 regions has slowed since the previous period. In the report, which stated that the growth in the manufacturing sector continued in most regions, it was stated that the main concerns affecting households and business plans were rising interest rates, general inflation, Russia's attack on Ukraine, and disruptions caused by Covid-19 cases. Nonfarm payrolls in the US increased by 390,000 in May, above expectations. While oil prices were on the rise due to the news that the EU agreed to reduce the amount of oil imported from Russia by approximately 90% by the end of the year, Brent oil rose above $120 a barrel during the week.
Weekly Market Analysis / 06 June- 10 June 2022
