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 ascends moderately in Asia
On Friday, gold gained moderately in Asia, with market sentiment subdued following the Fed rate lift as well as wavering fortunes for the greenback with traders focused on whether the Trump Administration is capable of getting back on track with its tax reduction and also stimulus policies amid a tough political debate over Russian hypothetical interference in the 2016 election.
In New York, August delivery gold futures tacked on 0.04%, trading at $1,255.07 a troy ounce.
Overnight, gold decreased to three week minimums, suppressed by a firmer greenback because risk-on sentiment resumed amid positive American economic data as well as expectations of an extra rate lift later in 2017.
A bunch of better than expected economic reports tapered worries that the American economy was braced for a slowdown in the second quarter, thus stoking expectations of an extra rate lift, after the Fed maintained its outlook of three total rate lifts on Wednesday.
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?
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.