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 markets fluctuate in wake of Hurricane Harvey
On Monday, crude markets fluctuated, with American crude ascending on output shutdowns while international Brent was suppressed by a flight into gold futures, reacting to a mighty North Korean nuclear test explosion.
American gasoline prices rebounded from a spike after the publication of emergency fuel stocks and also on signs that the damage caused by Hurricane Harvey to the Gulf coast energy infrastructure didn’t appear to be as bad as initially anticipated.
American West Texas Intermediate crude futures hit $47.42 barrel, just 13 cents higher their previous settlement.
Market participants told that this price surge was caused by crude output outages provoked by Hurricane Harvey.
Approximately 5.5% of the American Gulf of Mexico's crude output or 96,000 barrels of daily output, were still unavailable on Sunday, as the federal Bureau of Safety and Environmental Enforcement informed.
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Russian Oil Got Banned from Market
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Post-Fed Releases for USD & CAD Traders
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
FED and BOE Make Another Attempt to Beat Inflation
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.
