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 and copper lose in Asia
On Thursday, gold and copper weakened in Asia because a major measure of China manufacturing disclosed a sag into contraction in May.
In New York, June delivery gold futures dipped 0.20%, being worth $1,2769.47 a troy ounce. In addition to this, copper futures lost 0.50%, demonstrating $2.537 a pound.
Overnight, gold jumped because signs of weakness in the American economy underpinned safe haven demand after both manufacturing as well as housing data fell short of hopes.
Gold prices were still on track just to snap a two-day losing streak because market participants piled into safe haven gold, following a downturn American Midwest manufacturing as well as pending home sales.
In May, the Chicago Purchasing Management Index inched down to 55.2 from its strongest value in more than two years. For May, financial experts had hoped for an outcome of 57.0.
Geopolitical uncertainty along with an ongoing dip in greenback, has emboldened demand for the number one precious metal notwithstanding soaring hopes that the major US bank’s poised to lift interest rates already in June.
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.