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 small revenues in Asia
On Friday, crude prices held revenues in Asia, with the market poised for the latest American weekly rig count figures just to set the overall tone and looking to France’s upcoming presidential elections.
In New York, May delivery crude futures soared 0.14%, hitting $50.78 a barrel, while in London, Brent crude futures surged 0.08%, trading at $53.05 a barrel.
On Friday, oilfield services company Barker Hughes is expected to report weekly rig count data, closely watched as the American shale crude industry's aggressive response to higher prices. The previous week, Baker Hughes told that the weekly American rig count edged up by 11 to 683, for the thirteenth straight weekly surge.
Overnight, oil settled lower on Thursday, as worries over ascending American crude output compensated bullish comments from crude producers on a probable extension to the OPEC-led deal to tame global supply.
The glut in American inventories arose just a day after the EIA’s monthly Drilling Productivity data disclosed that American shale output was set to surge to 5.19 million barrels a day in May.
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?
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.
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.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…