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 slumps after strong third quarter as September OPEC output goes up
On Monday, crude sank, pausing for breath having posted 20% profits in the third quarter, after a poll pointed to a moderate soar in OPEC output in September.
American crude futures CLc1 lost 0.3% being worth $51.54 a barrel. On Friday, the American benchmark demonstrated its strongest quarterly revenue since the second quarter of last year and the longest streak of weekly profits since January.
Meanwhile, December delivery Brent oil futures dipped 0.4% trading at $56.57 a barrel. On Friday, November delivery Brent futures concluded 13 cents higher reaching $57.54 a barrel, showing a third-quarter revenue of approximately 20%, which is the greatest gain for five quarters. It happened to be the most impressive third-quarter soar since 2004.
The previous week Brent futures hit its highest value for more than two years and reported its fifth consecutive weekly profit. Apparently, it appeared to be the contract’s longest weekly bull run since June last year.
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?
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.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.