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).
Gold adds in Asia on London attacks
On Monday, gold gained support in Asia, following a weekend attack in London, which killed people. Moreover, Egypt as well as key Gulf Countries suddenly snapped commercial and diplomatic ties with Qatar, accusing this country of terrorism support.
June delivery gold futures grew 0.19%, being worth $1,282.61 a troy ounce in New York.
The previous week on Friday, gold tacked on to its highest value in over than a month after a dismal American employment report underlined the case for the Fed to proceed with lifting rates at a gradual tempo.
The previous month, the American economy managed to gain up to 138,000 jobs, as the Labor Department informed, thus falling far short of experts’ expectations for 185,000 new jobs.
The unemployment rate declined to a 16-year minimum of 4.3%.
The vast majority of analysts are assured that the dismal data won’t prevent the Fed from lifting interest rates at its gathering later this month.
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.