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 revenues as Saudi promises export curbs
On Tuesday, crude prices extended revenues after Saudi Arabia promised to curb exports from next month, while OPEC called on several participants to boost compliance with output cuts for the purpose of reining in global oversupply and tackling flagging prices.
Gains were also backed by Halliburton's executive chairman, who told that the surge in North American rig count was demonstrating signs of plateauing, thus clouding a boom in American shale crude output.
September delivery Brent crude futures surged 0.6% being worth $48.90 a barrel, having settled up 1.1% on Monday.
As for US West Texas Intermediate crude futures, they ascended 0.7% trading at $46.65.
At Monday’s ministerial meeting in St. Petersburg, Saudi Energy Minister Khalid al-Falih told that OPEC along with non-OPEC participants were committed to extending their currently existing deal to reduce oil output by approximately 1.8 million barrels per day beyond March next year if required.
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.