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 dips as ascending output weighs
On Monday, oil descended, though still staying close to nine-week maximums, backed by sturdy American jobs data the previous week as well as a moderate sag in the American drill rig count, even as soaring output from OPEC tamed oil markets.
Brent crude futures decreased 0.32% being worth $52.25 a barrel.
American crude futures slumped 0.30% trading at $49.43 per barrel.
Prices for both benchmarks have been sticking to their maximums since late May, when crude producers led by OPEC extended a deal to cut output by about 1.8 million barrels a day until the end of March 2018.
At the end of the previous week crude prices grew strongly because traders considered American jobs data as an upbeat indication of crude demand in America. A small dive in the number of drill rigs in the USA backed prices too.
In July, American employers hired up to 209,000 employees, beating forecasts, and increased wages, as the US Labor Department informed on Friday.
Similar
The OPEC Meeting May Push Oil to $150
The Organization of Petroleum Exporting Countries will hold a meeting on June 2.
Russian Oil Got Banned from Market
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?
Latest news
Increased Volatility is Coming
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
Market Crash Incoming?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
What Currency Will Overperform?
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
