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?
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
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.