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 leaps after Russia and Saudis tell supply cut could be extended to March 2018
On Monday, crude prices soared after the energy ministers of number one crude producers Saudi Arabia and Russia told that an OPEC-led crude output cut would be potentially extended from the middle of 2017 until March 2018.
Following the news, Brent crude futures reached $51.66 per barrel, growing 1.6% from its previous close.
American West Texas Intermediate crude futures hit $48.67 per barrel, soaring 1.7%.
On Monday, Saudi Energy Minister Khalid al-Falih as well as his Russian rival Alexander told in Beijing that a joint deal to reduce crude supplies to underpin prices would be extended from the middle of 2017 until end-March 2018.
Last year the Organization of the Petroleum Exporting Countries promised to reduce output by approximately 1.8 million barrels per day during the first half of 2017.
By the way, Russia along with Saudi Arabia control up to 20 million bpd in daily output, which is equivalent to a fifth of global crude consumption.
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.