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 heads south in Asia ahead of Fed minutes
On Wednesday, gold slumped because market participants geared for Fed gathering later in the day for more fresh clues on the rate path next year.
December delivery gold futures dived 0.14% in New York being worth 1,279.89 a troy ounce.
Overnight, gold rallied after the US currency went down amid weakness in long-term US yields ahead of the publication of the Fed’s October gathering minutes slated for Wednesday.
Long-term treasury yields were still suppressed, thus putting pressure on the evergreen buck, while spurring demand for gold because market participants waited for the minutes of the Fed October gathering for fresh clues on future monetary policy action.
The overall prospect of a December rate lift happens to be fully priced in, as investing.com’s fed rate monitor tool states.
Traditionally, the number one precious metal is very sensitive to moves lower in the greenback. It’s because a weaker US currency makes gold more affordable for holders of foreign currency.
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?
Good morning, dear traders! Hope you’re doing great! Let’s talk about the news that is worth following today! Key market events: 15:30 MT, CAD GDP m/m 17:00 MT, GBP BOE Gov Bailey Speaks Oil is tensed again Oil rose as China refined its approach…
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Hello, dear traders! We hope you have a great day! Let’s see what news is worth following today! Market closing US stock exchanges will be closed due to the Thanksgiving holiday…