STARTRADER Market Recap | 24-May-2023

Another round of debt ceiling talks in the US ended without an agreement, putting pressure on the markets. As a result, gold rose yesterday and has been trading within a narrow range this week between $1955 and $1982 an ounce, following a horizontal trend. Investors are now eagerly awaiting the release of FOMC Meeting Minutes, hoping to find indications of what to expect in the upcoming period, particularly regarding monetary policy and economic outlook. In Tuesday’s session, US indices closed lower across the board, as investors grew increasingly concerned about the lack of progress in talks to raise the US debt ceiling. These concerns have led to a surge in yields on the one-month Treasury note, reaching a record high of 5.88%.