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 goes down, though copper leaps on China PMI data
On Wednesday, gold went down because China posted better than expected PMI figures for May, thus underpinning copper moderately on expected continued surge.
June delivery gold futures sagged 0.16% in New York, hitting $1,260.11. Meanwhile, copper futures tacked on 0.12%, being worth $2.573 a pound.
Overnight, gold rebounded from a one-month peak notwithstanding a soar in safe haven demand amid everlasting geopolitical worries in the European Union, while hawkish comments as for US interest rates from a top Fed representative capped upside momentum.
Gold sank at the beginning of EU trade on Tuesday because worries as for geopolitical uncertainty in Europe relived somewhat, following the publication of the ICM poll for The Guardian, revealing that the Conservative Party held a healthy lead of 45% unlike Labor's 33%, before the general election scheduled for June 8.
Besides this, euro zone finance ministers’ inability to agree on Greek debt relief with the IMF the previous week as well as the prospect of early elections in Italy spurred demand for safe haven gold that restricted losses.
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?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.