The U.S. market broke with its positive trend after an FOMC message that was more hawkish than expected. In addition, the latest labour data confirmed that the U.S. job market continues to be strong. Consequently, the market expects the Fed to continue with the tight monetary policy.
After the recent rally, this week’s movement erased the gains from last week. The U.S. curve moved upwards, reacting to Powell’s message that suggested that the Fed would increase the peak rate projections in December’s FOMC meeting.
Crude Oil saw a positive week following rumours that China will start to ease its Covid restrictions. Brent’s futures finished on Friday with its third weekly gain, closing at 98.5, the highest level since August.