
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 Monday, gold sank in Asia because the evergreen buck modestly rebounded, thus aiding some physical selling.
February delivery gold futures dived 0.31% being worth $1,347.90.
As for the US dollar index, it edged up 0.18% being worth 89.03.
On Tuesday, the Fed gathering, the last headed by Janet Yellen before Jerome Powell takes office, is going to be in focus. The same is true for Friday’s American jobs report for January as well as Wednesday’s euro zone inflation data.
The previous week, the evergreen buck demonstrated its greatest weekly sag since June, reacting to remarks from the American Treasury secretary welcoming a weaker dollar.
The previous week, gold concluded lower, although remained in sight of yesterday’s 17-month maximum as the evergreen buck was suppressed by data pointing to stepping down American economic surge as well as comments by a senior US statesman underpinning a weaker currency.
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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