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 holds moderate revenue in Asia after steep losses overnight
On Thursday, crude prices gave up early revenues in Asia, though staying in the black with market sentiment firmly focused on the pain point for American shale driller crude benchmarks keep declining close to $40 a barrel.
August delivery crude futures tacked on 0.07% in New York, settling at $42.56 a barrel. In London, Brent crude futures climbed up 0.04%, trading at $44.84 a barrel.
Overnight, crude futures shrugged off their lowest value since August, although remained at seven-month minimums because data showing that supplies of American crude sagged by more than expected didn’t manage to compensate fears as for the glut in supply.
Inventories of American crude went down by approximately 2.45m by June 16, which is below hopes for draw of nearly 2.1m barrels.
Oil prices have stood under pressure since the beginning of the week, reflecting the surging disbelief among traders in Opec as well as its allies’ ability to adjust the demand and supply balance in the oil market.
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.