The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).
Crude demonstrates mild ascend in Asia ahead of American rig count data
On Friday, crude staged a moderate soar in Asia, with American crude approaching the key $50 a barrel mark ahead of weekly rig count data supposed to set the near-term tone ahead of next week's gathering of OPEC as well as allied producers on output dips.
In New York, June delivery crude futures added 0.85%, being worth $49.77 a barrel. As for London, in this city Brent futures acquired 0.70%, being worth $52.88 a barrel.
In figures posted last Friday, oilfield services company Baker Hughes announced that American drillers gained 9 crude rigs just to take the total to 712 rigs for the 17th weekly revenue in a row, thus extending an 11-month drilling revival to the highest value since August 2015, suggesting that further revenues in domestic production are ahead.
Overnight, oil climbed up because traders remained quite upbeat as for OPEC would reach an anticipated agreement in order to extend the current supply-cut deal beyond June at its scheduled gathering next week.
The Organization of Petroleum Exporting Countries will hold a meeting on June 2.
This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.