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 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.
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.
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.