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 is steady as market conditions tighten notwithstanding soaring US output
On Monday, crude markets stood still, mostly holding on to Friday's huge revenues even though ascending American output put pressure on hopes the market are going to tighten after a 13% dip in American crude inventories since March.
Brent crude futures got to $52.70 per barrel, sliding a cent from their previous close.
American West Texas Intermediate crude futures hit $48.54 a barrel, soaring up to 3 cents from their previous settlement.
It emerged after a 3% leap in prices on Friday.
Market participants told that the market turned to be somewhat held back by ascending American output that has surpassed 9.5 million barrels a day, which is its highest outcome since July 2015.
However, the surge in American output might slow in the nearer future because energy companies reduce rigs drilling for new crude for a second week in three, as the Baker Hughes energy services company informed on Friday. By August 18 drillers managed to cut up to five crude rigs, thus bringing the total count down to about 763.
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?
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.
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.