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 extends rebound because OPEC hints at supply drops beyond 2017
On Tuesday, crude prices rose in European trade, extending a rebound off the previous week's four-month minimums on the probability that major producers could extend output dips beyond an agreed-on June deadline.
June delivery US West Texas Intermediate crude futures grew 0.5%, being worth $46.67 a barrel.
On Monday, the US benchmark settled higher for the second trading session, rebounding having hit its lowest value since November 14 at $43.76 on Friday.
Meanwhile, July delivery Brent futures in London jumped 25 cents, showing $49.59 a barrel. On Friday, this benchmark tumbled to $46.64, a value not observed since November 15.
OPEC along with non-member crude producers are actually considering extending a global supply drop for nine months or even more in order to clear a supply glut.
According to one industry source, there had been talks about extending curbs until the end of the first quarter of next year, when oil demand should be seasonally poor.
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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.
