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 goes down on pipeline restart
On Tuesday, crude sank in Asia amid uncertainty as for a probable extension of output cuts by key oil producers as well as expectations of higher supply because the Keystone pipeline restarts.
Brent futures dived to $63.72 a barrel, losing 0.2% from their last close.
American West Texas Intermediate futures slumped 0.5% being worth $57.82 a barrel having sagged 1.4% in the previous session.
On Friday, US crude hit $59.05 a barrel, which is the highest value since mid-2015, driven by the outage of the Keystone pipeline, Canada's one of key crude export routes to America.
This week TransCanada Corp told it would have the 590,000 barrel-per-day pipeline restarted at reduced pressure a bit later on Tuesday having obtained approval from American regulators.
Ongoing uncertainty over Russia's determination to join other key crude producers in their extending crude output curbs beyond next March has put pressure on crude markets.
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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.
What Currency Will Overperform?
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.
Investor Positivity May Fade After Powell's Speech and CPI Release
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.
