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 in Asia as Middle East risk premium relieves
On Monday, crude sank in Asia because the market shrugged off a risk premium built around Middle East tensions between Iran and Arab states even as Saudi Arabia at the weekend criticized Tehran once again for backing terrorism.
American West Texas Intermediate crude futures went down 0.12% being worth $56.64 a barrel. Additionally, Brent crude futures sank 0.27% trading at $62.56 a barrel.
In the week ahead, crude trade volumes are believed to stay light around Thursday\'s Thanksgiving holiday as well as Friday\'s concise trading session.
Investors are going to closely watch fresh weekly information on American stockpiles of crude and also refined products on Tuesday and Wednesday in order to assess the overall strength of demand in the world’s number one crude consumer.
The previous week, crude rallied on Friday, although unable to compensate their first weekly loss for six weeks because fears over ascending American output persisted. Meanwhile, weakening hopes for an extension of OPEC-led output curbs put pressure on market sentiment.
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!