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 goes down amid glut worries
On Friday, crude slumped amid worries that Donald Trump's intention to abandon a global climate pact could spur more crude drilling in America, thus driving an ongoing glut in global supply.
Brent crude futures declined 0.45%, being worth $50.4 a barrel.
American West Texas Intermediate crude futures dived 0.54%, hitting $48.1 per barrel.
Commodity markets were digesting reports that America would withdraw from the landmark 2015 global agreement to withstand climate change. The given move fulfilled a key campaign promise , while drawing condemnation from American allies.
Strengthening American production has put a strain on OPEC members' attempts to curb output in order to drain a global crude supply overhang and also to spur oil prices.
The previous week, the Organization of the Petroleum Exporting Countries as well as some non-OPEC members gathered in Vienna to roll over the output drop agreement in order to cut 1.8 million barrels per day until the end of March 2018.
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?
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.