
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?
On Wednesday, gold kept diving, extending losses into a third session. It’s because market participants looked ahead to minutes of the Fed’s latest policy gathering for further clues on the timing of the next American rate lift as well as clues on how the major financial institution intends to pare back its balance sheet.
The Fed’s going to publish minutes of its most recent policy gathering later in the day.
The key bank left interest rates intact following its gathering on July 26 and told it actually expected to start shrinking its huge holdings of bonds in the nearer future. Policymakers also told that weakness in American inflation more explicit than before.
Aside from that, market participants will monitor data on American housing starts as well as building permits in order to assess the overall strength of the world's number one economy and how it will influence the Fed's view on monetary policy.
In New York, gold futures slumped 0.3%, being worth $1,275.81 a troy.
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?
US Energy Information Administration will reveal Crude oil inventories on February 9, 17:30 GMT+2.
On Wednesday, February 2, during the day, members of the Organization of Petroleum Exporting Countries (OPEC) and Joint Ministerial Monitoring Committee (JMMC) will discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
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