On Monday, there was a fall of gold prices below the key support level. Such a drop in price was driven by a hawkish sentiment of the Federal Reserve’s (Fed’s) representatives, which caused investors’ confusion.

On Monday, Thomas Barkin, president of the Federal Reserve Bank of Richmond, expressed his support for a slower pace of the Fed’s rate hiking aimed at taming extremely high inflation.

Over the past week, gold fell to $1,750 an ounce before recovering back to where it started.

Governor's assistant Karen Silk said that New Zealand's central bank did not expect such strong inflation.

Governor of the Reserve Bank of Australia Philip Lowe noted that Australia had a better chance of achieving a ‘‘soft landing’’ than almost any other developed country. Australia benefits from the fact that Australian wage growth is running at a weaker pace than peers.

During the interview for Sunday Independent newspaper, Gabriel Makhlouf, head of the CB of Ireland and governing council member of the European central bank, said the pace of interest rate hike in the Eurozone will probably slow down in 2023.

At the end of the previous week, President of Mexico Andres Manuel Lopez Obrador, while marking his fourth year in office, announced that the country’s economy should grow by at least 3.5% in 2022, as well as in 2023 and 2024.

Prime Minister of Japan Fumio Kishida on Monday rejected a proposal to add salary increase among the new monetary policy targets that the government and central bank must pursue to support a fragile state of the economy.

New Zealand will probably enter a small recession, so the interest rate should continue growing to fight inflation. Such an opinion has appeared among the monetary authorities of the central bank.

According to Reuters, protests against restrictive policies related to COVID-19 have erupted across China. This social unrest has increased uncertainty in the market, leading to the yuan’s fall. The U.S. dollar, in turn, significantly strengthened over the weekend.