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 edges down on sliding Chinese crude imports
On Wednesday, crude prices went down because Chinese crude imports declined to their lowest value in a year. However, market participants told the overall market is still backed due to OPEC-led supply cuts.
Investors told they were monitoring growing tensions in the Middle East, especially those between regional counterparts Iran and Saudi Arabia.
Brent futures showed $63.33 a barrel, losing 0.6%. The given sag actually follows Brent soaring to an over two-year maximum of $64.65 earlier this week.
As for American West Texas Intermediate crude futures, they demonstrated $56.90 a barrel, descending 0.5% from their previous settlement.
China's October crude imports went down abruptly from September’s nearly record-maximum of nearly 9 million barrels a day to about 7.3 million bpd. That’s what the General Administration of Customs informed on Wednesday. It turns to be the lowest outcome since October 2016, although imports managed to gain 7.8% from 2016.
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?
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.
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.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.