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 prices revive on big American crude stock drawdown
On Wednesday, crude ascended because industry data disclosed a larger-than-anticipated drawdown in American crude stockpiles. Meanwhile, hopes for an extended shutdown of a key North Sea crude pipeline also kept bolstering financial markets.
Brent crude gained 1% being worth $63.98 a barrel. On Tuesday, the benchmark had declined 2.1% following profit-taking after news of a major North Sea pipeline shutdown assisted to send the benchmark above $65 for the first time since 2015.
Additionally, American West Texas Intermediate crude futures rallied 0.7% sticking to $57.56 a barrel, having tumbled 85 cents in the previous session.
The UK’s major pipeline from its North Sea oil and gas fields will be probably shut for repairs for a couple of weeks, as its operator told on Tuesday.
In response to this move at the North Sea several crude producers, including Royal Dutch Shell and BP told that they had closed down their oil fields too.
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Increased Volatility is Coming
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.
Market Crash Incoming?
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.
What Currency Will Overperform?
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.
