Anasayfa Blog Market Analysis Weekly Market Analysis / 27 June- 1 July 2022

Weekly Market Analysis / 27 June- 1 July 2022

by Buse Kozok
Weekly Market Analysis /  27 June- 1 July 2022

Last week, the US Federal Reserve (Fed) Chairman Powell's presentation to the US Senate on monetary policy drew attention in global markets. In his speech in the Senate, Powell stated that they think that the continuation of interest rate increases is appropriate, that inflation surprises upwards, and that there may be more surprises, so it is necessary to be agile when responding to future data and the development of the outlook. Stating that the American economy is very strong, Powell evaluated that the economy is in a position to cope with tighter monetary policy. Powell stated that there is a possibility of a recession, but this is not a desired outcome. Global markets followed a mixed course during the week with increasing recession concerns. While oil prices started to decline due to recession concerns, Brent oil decreased to 107 dollars a barrel during the week. In global markets, the war of central banks against inflation continues, the movement of ounce of gold follows a horizontal course in this environment. It was priced between $1,818-$1,847.