On Wednesday, the ECB Policymaker Madis Muller stated that the European Central Bank could reveal its rate hike plan in June.
This week, Reuters published poll results, which revealed that surveyed economists expect the Japanese economy to have contracted in the first quarter of 2022.
During Thursday's trading hours, the prices for BTC and ETH continued to drop. BTC lost more than 10.00% and ETH declined by more than 16.00% during early European trading.
At mid-day on Tuesday, the price for natural gas started a recovery, as news came in that gas flows to Europe from Russia had been decreased by a fourth. The gas route was reported to be shut due to occupying Russian forces.
In April, inflation in Greece reached a 28-year high level, as month-on-month inflation had reached 10.2%.
At 12:30 GMT, the United States Labour Statistics Bureau released the monthly US Consumer Price Index and Core Consumer Price Index data for April. The event caused a surge of the US Dollar and drop of all assets traded against it, as it revealed the current Fed policy had failed to decrease inflation.
The President of the New York Federal Reserve John Williams stated this week that a decrease of inflation would not stop an economic decline and rising unemployment.
Reuters revealed on Tuesday that Tesla had stopped most of its output in Shanghai, which caused the drop in April sales.
This week, the Bank of Japan announced that it has no plan to widen the central bank's yield band to stop the decline of the Japanese Yen.
This week, Michael Saunders from the Bank of England Monetary Policy Committee stated that in his opinion inflation could exceed the central bank's forecasts.
The Bank of Canada revealed this week that it would provide guidance on its interest rate plans in an effort to decrease inflation.
This week, the US Treasury Secretary Janet Yellen stated that despite recent volatility the US financial system appears to be functioning in an orderly manner.
On Monday, the President of the Atlanta Federal Reserve Raphael Bostic stated that the Fed would hike interest rates by 0.50% during the next couple of meetings, before considering the need for further hikes.
This week, various companies announced that they are decreasing their 2022 profit forecasts, as inflation continues to increase costs.
On Monday, the President of the Minneapolis Federal Reserve Neel Kashkari stated that inflation might not decrease despite easing supply chains.
Richard Clarida and Randal Quarles, who up to January were high members of the Federal Reserve, have recently called for steeper Fed interest rate hikes.
At the start of the week's US trading, the USA Tech stock index reached a new low level by reaching below 12,400.00 and touching the 12,350.00 mark.
Reuters has revealed that Tesla intends to reach pre-lockdown output in Shanghai by the middle of May.
On May 9, the price for Bitcoin reached a new 2022 low level, as the 33,000.00 mark and the previous January low were passed.
In the aftermath of a labour union meeting with US President Joe Biden, Starbucks has requested equal time with the President to address the issues that were pressed by the unions.
On Friday, the Federal Reserve of Minneapolis President Neel Kashkari stated that the Fed would have to hike interest rates aggressively, if supply chain problems do not decrease.
Data released by the US Labor Department on Friday revealed to the world that additional 363,000 people had left the labour market by no longer claiming unemployment and not finding employment.
The US Average Hourly Earnings month-on-month change disappointed by coming in at 0.3%, compared to the forecast of 0.4%. US Unemployment Rate was revealed to be by 0.1% higher than forecast due to it being at 3.6% instead of 3.5%. Meanwhile, the Non-Farm Employment Change revealed that in April 428,000 people found jobs, instead of the consensus 390,000.
Various stock indices ended the week with a decline, as an asset sell off resumed, despite Wednesday's rebound.