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 is at 5-month minimums on stronger greenback
On Friday, gold dived to five-month minimums because optimism as for the US tax reform overhaul kept underpinning demand for the US dollar ahead of the highly-anticipated American nonfarm payrolls report to be released a bit later in the day.
Gold futures went down 0.16% being worth $1,251.10 a troy ounce, which is the lowest reading since July.
The US currency was also boosted after Thursday’s data disclosed that the previous week American jobless claims went down for third consecutive week.
Assessing the greenback’s value against a trade-weighted basket of six crucial currencies, the US dollar index tacked on 0.15% being worth 93.89, which is its highest value since November 21.
Traders seemed to neglect potential geopolitcal tensions following Donald Trump’s decision to officially recognize Jerusalem as Israel's capital and also to move the American embassy there.
Silver futures ascended 0.15% reaching $15.83 a troy ounce.
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?
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.