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 prices descend due to Middle East issues
On Tuesday, crude sagged for a third day, affected by worries that a political rift between Qatar as well as several Arab states would strictly undermine an OPEC-led initiative to tighten the oil market.
Persistent revenues in American output also dragged on benchmark oil prices, as market participants told.
Brent crude futures hit $49.27 per barrel, sliding 0.4% from the previous close.
American West Texas Intermediate crude futures wet down 0.2%, being worth $47.21 per barrel. As a matter of fact, they lost approximately 8% from the May 25 open.
On Monday, all ties with Qatar were suddenly snapped by major Arab powers, including Egypt, Saudi Arabia as well as the United Arab Emirates. All of them suddenly accused Qatar of support for terrorists.
Meanwhile, American crude output has leapt more than 10% since mid-2016, hitting 9.34 million bpd, a level close to number one producers Saudi Arabia and Russia.
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?
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!