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?
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!