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 revives some lost ground, though market is under pressure
On Monday, crude prices revived some ground, following the previous week's huge losses, powered by hopes that OPEC will extend its promise to minimize output to cover all of 2017, though a relentless surge in American drilling capped revenues.
American West Texas Intermediate crude futures CLc1 gained 0.5%.
Brent crude futures LCOc1 inched up 0.5%, hitting $52.23 per barrel.
Crude prices edged down steeply the previous week on the back of relatively high crude supplies notwithstanding a promise by the Organization of the Petroleum Exporting Countries as well as some other crude producers to reduce output by nearly 1.8 million barrels per day for six months from January 1 to back the market.
American drillers added crude rigs for a 14th week in a row, adding to 688 rigs and extending an 11-month revival, expected to boost American shale output in May by the biggest monthly surge in more than two years.
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The Organization of Petroleum Exporting Countries will hold a meeting on June 2.
Russian Oil Got Banned from Market
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?
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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.
