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 sags further as focus shifts to American supply data
On Tuesday, oil managed to extend its drop into a second session because market participants looked ahead to weekly reports from America on stockpiles of oil as well as refined products to indicate the strength of demand in the world’s number one consumer.
Industry group the American Petroleum Institute is expected to publish its weekly report soon on Tuesday. On Wednesday, official data from the Energy Information Administration is going to be published, amid estimates for an oil-stock sag of approximately 3.5 million barrels that would mark the third-straight dip.
American West Texas Intermediate crude futures edged down 0.4% hitting $57.23 a barrel, having declined 1.5% yesterday.
At the same time Brent crude futures got to $62.22 a barrel, diving 0.4%, from their previous close. In the previous session the contract tumbled 2%.
On Monday, crude settled lower amid concerns that soaring American shale output would affect OPEC’s vigorous effort to rid the crude market of excess 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?
The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!
The US stock market fell in the third quarter. What's going on and why economists think that the last quarter will be better? Let's discuss it all here.
BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!