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 is steady as OPEC cuts counter ascending American supplies
On Thursday, crude markets didn’t change because soaring American crude output as well as inventories were countered by hopes that OPEC will extend an everlasting output cut during a gathering at the end of this month.
Brent crude futures LCOc1 hit $61.98 a barrel, just 11 cents above their previous close.
American West Texas Intermediate crude futures reached $55.37 a barrel, gaining 4 cents from their last settlement.
Crude definitely shrugged off a sudden ascend in the American crude inventory data, and both contracts eked out minor revenues, as senior market analyst at futures brokerage OANDA in Singapore, Jeffrey Halley explained.
Notwithstanding these slight revenues, WTI and Brent have lost approximately 4% in value since reaching 2015 maximums the previous week, suppressed partly by soaring crude availability in the US.
American crude inventories edged up for a second week in a row versus experts’ expectations in a Reuters survey for a tumble of 2.2 million barrels.
Similar
The OPEC Meeting May Push Oil to $150
The Organization of Petroleum Exporting Countries will hold a meeting on June 2.
Russian Oil Got Banned from Market
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?
Latest news
NFP, Oil, and US Stocks Highlight This Week
Welcome to the first week of October! As usual, at the start of the week, we are looking for valuable insights that will bring us profits in trading. Let’s observe the main events.
The US Dollar Is Correcting
Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?
Bearish Signal For The USD
XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!
