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AHR Weekly Market Update - Monday 18th September
Manage episode 377398352 series 2891086
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On this week’s AHR Market review..
Throughout the week, the primary focus of markets revolved around US inflation data, as investors eagerly sought clues regarding the potential conclusion of the Federal Reserve's rate hiking programme in the coming months or if in indeed it has already concluded.
Wednesday's highly anticipated release of the US August Consumer Price Index (CPI) data revealed that the Federal Reserve has made progress in its battle against inflation.
In Europe, the European Central Bank (ECB) raised interest rates for the 10th consecutive time and hinted at the possibility of nearing the end of its monetary tightening campaign.
In the UK, the economy contracted more quickly than anticipated in July due to factors such as worker strikes, adverse weather conditions, and increasing borrowing costs, according to the Office for National Statistics.
During the week, US equity markets initially declined in anticipation of the CPI release, then rallied after robust retail sales data, but later pared gains on Friday due to auto worker strikes and increased volatility.
With inflation and interest rates taking center stage, the yield on the 10-Year US Treasury increased to 4.32% following a strong CPI report and better-than-expected retail sales.
The price of U.S. crude oil climbed for the third consecutive week, surpassing $90 per barrel on Thursday for the first time since November of the previous year.
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