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 ticks up, gasoline drops as refineries get back after Harvey
On Tuesday, crude prices ascended because demand picked up and American refineries started resuming operations.
Meanwhile, gasoline futures kept dropping because initial concerns of a serious supply crunch relieved.
October delivery West Texas Intermediate crude futures hit $47.55, soaring 0.5%. On Monday, American crude futures didn’t settle due to the Labor Day holiday in the USA.
Meanwhile, November delivery Brent futures sagged 0.2% in London, being worth $52.25 a barrel.
October delivery gasoline futures lost 1% trading at $1.674 a gallon, which is close to levels observed before storm system Harvey affected the US Gulf coast.
Last Thursday, prices leapt to a two-year maximum of $2.139 on concerns of supply shortages.
Pipelines, crude refineries and shipping channels across Texas and Louisiana started a gradual return of operations after a week ago Harvey impacted the heart of the American energy industry.
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?
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.