Weekly Summary


We are on the first day of July and the second half of the year started today. We will close the week with the US Trading Session. Lets cover important moments of the week.


1- Ukraine - Russia War

Ukraine is getting new weapons from the US and the UK. That means we will see more clashes between these two countries. Ukrainian forces claimed that they have captured some locations back from Russian Invaders. Russia has accepted some of their losses and also new weapon transportation trains have been recorded by local media. They will also support their troops in Ukraine Soils.


2- Europe Recession Fears

Each passing day and each new report is showing us that recession in Europe is inevitable. People are kind of focused on summer vacations these days and service sectors are keeping economies alive. But as we get closer to summer this will change and people will focus more on harsh winter conditions with less gas supply from Russia. And we will see shy consumers and most probably a recession.


3- Global Inflation Rates

On Wednesday we saw once more that every central banker is concerned about inflation in their economies. They have different views and timelines but commın thing is raising the interest rates. In a rising interest rates environment, government bonds are becoming a new trend. So we see a decline in Gold and see more demand for these bonds.


4- China's Mixed Reports

Manufacturing PMI data has been reported today in China and it is higher than expected. Some analysts are saying that is because of delayed productions during the lockdown. And we will see the real results in the next report. And that seems to be a correct statement as many factories tried to cover their backlogs in the last month and this helped on rising Manufacturing PMI.


5- Euro Area Inflation Rate

Inflation expectation was 8.4% in the Euro Area but the reported number is %8.6. So ECB Lagarde is in more trouble. She has to make tough decisions. If she raises the rates as expected Italy and Spain will get into a crisis if she doesn't rate the whole Europe will suffer from high inflation.


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04 July 2022 07:54

Gold stabilized!

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