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 gains on North Sea pipeline outage
On Wednesday, crude tacked on, underpinned by hopes for a dip in US crude inventories and also by the everlasting outage of the North Sea Forties pipeline system.
American West Texas Intermediate crude futures hit $57.73 a barrel, rising 0.3% from their previous settlement.
As for Brent crude futures, they reached $63.91 a barrel, adding 0.17%.
On Tuesday, the American Petroleum Institute told that American crude inventories headed south by 5.2 million barrels by December 15 to 438.7 million.
Crude have also been backed by the ongoing outage of the Forties pipeline in the North Sea – it delivers oil, which underpins Brent futures. Operator Ineos hopes a crack in the pipeline will be fixed soon.
Notwithstanding the North Sea outage as well as diving US crude inventories, crude has remained some way off their $65.63 and also $59.05 a barrel recent maximums for respectively Brent and WTI.
Market participants told soaring American crude output that has leapt by 16% since mid-2016 to 9.8 million barrels a day, was actually capping prices.
Similar
The OPEC Meeting May Push Oil to $150
The Organization of Petroleum Exporting Countries will hold a meeting on June 2.
Russian Oil Got Banned from Market
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?
Latest news
The Yen Sets New Lows
The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!
Experts are Waiting for US Stocks to Rise
The US stock market fell in the third quarter. What's going on and why economists think that the last quarter will be better? Let's discuss it all here.
BlackRock CEO Supports The USD
BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!
