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 gives up early revenues, although market is still backed
On Wednesday, crude prices gave up some early revenues because experts warned of a downward correction, although remained well backed on the back of tightening supply as well as strong global demand
Tighter fundamentals have raised both benchmarks approximately 13% above levels in early December, underpinned by output curbs by OPEC as well as Russia, and also by healthy demand surge.
Brent crude futures showed $69.23 a barrel, adding 8 cents from their previous settlement, although sliding from a maximum of $69.37 in the day. On Monday, Brent added to $70.37 a barrel, which happens to be its highest value since December 2014 - the very beginning of a three-year crude price dive.
American West Texas Intermediate crude futures demonstrated $63.84 a barrel, losing from a maximum of $63.89 earlier, although growing 11 cents from their previous close. On Tuesday WTI showed $64.89, which is the highest reading since December 2014.
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.