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 head south further in Asia on API build in crude inventories
On Wednesday, crude dipped further in Asia because industry data cast a shadow on American demand prospects after inventories suddenly inched up.
June delivery crude futures went down 0.97%, trading at $48.19 in New York, following the API figures. Brent futures lost 0.81%, being worth $51.23 a barrel in London.
American crude inventories inched up 882,000 barrels at the end of the previous week, as the American Petroleum Institute informed on Tuesday. It’s compared to a slide of 2.3 million barrels observed and the previous week's data, which showed a 5.789 million barrels dip.
Distillate stocks soared 1.79 million barrels, while gasoline supplies dipped 1.78 million barrels. Then, supplies at Cushing, Oklahoma, edged down by 540,000 barrels. Financial experts expected a 1.050 million barrels descend in distillates and also an 731,000 barrels sag in gasoline supplies.
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!