Weekly Summary 03.06.2022

Weekly Summary 03.06.2022

Weekly Summary 03.06.2022

Weekly Summary

We are closing the week with a US Trading Session. Let’s cover the important moments of the week.

1- Russia – Ukraine

100 Days have passed in the war. The world economy has been affected by this war and we still don’t know the future outcomes. High Energy and Food Prices are killing the demand slowly and we are heading to a recession. Both sides are staying strong and there seems to be no solution in the coming weeks, maybe months.

2- US ADP Private Sector Report

ADP report was lower than expected. We have seen the lowest level of that since the recovery of Covid. Investors have just expected less hawkish FED manners after this report but it didn’t last too much.

3- US Non-Farm Payroll Report

US officials reported that 360K people have been hired in May and that is higher than expected. The Unemployment Rate is the same as April with %3.6 Level. This report has just given more room to FED as they say their first priority is maximum employment. They will go on increasing the rates and this expectation will create pressure over stocks.

4- Germany Trade Balance

We have received the lowest level of Germany Trade Surplus since 1992. Germany has reported only €1.3 Billion Trade Surplus in May. Their exports to Russia have fallen dramatically and energy import bills have skyrocketed. If this trend goes the same as last month we may talk about the trade deficit in Germany. 

5- OPEC+ MeetingOpec Members have gathered and many investors expected high production rises from them especially from Saudi Arabia and UAE. But they have decided to increase only 0.4 Million Barrels in July and this has created a more bullish environment in Crude Oil Prices. 

As you can see there are a lot of things happening in the market. You can make money with BUY and SELL orders. With Gann Markets you can invest in more than 100 Instruments. Start Trading Today!!

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06 June 2022 07:43

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