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 up on IMF economic surge outlook
On Tuesday, crude added, underpinned by healthy economic surge and the everlasting supply restraint by a bunch of oil exporters, including Russia and OPEC.
Spot Brent crude futures hit $69.41, rising 0.55% from their previous settlement, which is not far off the January 15 three-year maximum of $70.37 per barrel.
As for American West Texas Intermediate crude futures, they hit $63.99 a barrel, soaring 0.7% from their previous close. On January 16 WTI managed to reach its highest value since December 2014, demonstrating an outcome of $64.89 a barrel.
Market participants told that crude markets were mostly underpinned by healthy economic surge.
On Monday, the International Monetary Fund updated upward its estimate for world economic surge this year and 2019, to about 3.9% for both years, which is a 0.2% jump from its last revision in October.
Meanwhile, in the longer term, market participants are ready for a series of large-scale changes in crude demand coming from the growing popularity of electric cars.
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?
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
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.