The US Payrolls Bring New Hope for Gold
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 descends in Asia after strong trading week
On Friday, crude slowed its surge in Asia, following the prospect of high inventories as well as more efficient production.
August delivery US West Texas Intermediate crude futures went down 0.20% demonstrating $45.99 a barrel in New York. Meanwhile, in London, September delivery Brent futures slid 0.14%, trading at $48.35 a barrel.
Friday’s moderate losses in Asia haven’t done much to cap one of the best trading weeks for crude in months. Evidently, oil prices have been suppressed for up to three years, but this week’s reports of diving stocks in America and the probability of extending an OPEC output cap to Libya and Nigeria definitely helped to shore up markets.
On Thursday, Nigeria announced that it would restrict its crude output when it stabilizes at about 1.8 million barrels a day. In May, Nigerian oil output reached 1.733 million bpd, while June’s output is supposed to approach the target.
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Russian Oil Got Banned from Market
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Events to trade on August 15-19
A new week means new trading opportunities! Here are some events that can fluctuate the market actively…
USD Moves Weird Ahead of CPI
The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.
The NFP Release: One More Punch for USD?
The United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on August 5, 15:30 GMT+3.
