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.
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?
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!