
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).
On Wednesday, gold managed to soar in Asia in cautious trade because market participants waited for the latest Fed rate verdict as well as forward-looking guidance on plans to trim its huge balance sheet.
August delivery gold futures added 0.23%, being worth $1,271.55 per troy ounce.
Gold futures were trapped in rather a narrow range because market participants stood away from initiating large positions in gold ahead of the start of the Fed’s June gathering, with the majority of investors hoping for an interest rate lift.
In an ascending interest rate environment, investor hunger for gold dips because the opportunity cost of holding gold tacks on relative to other interest-bearing assets, including bonds.
Market participants closely watch Fed chair Janet Yellen’s press conference for any signs on future monetary policy as well as an update on the major US bank’s intention to cut its $4.5 trillion balance sheet.
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).
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?
A new trading week is coming…
News is always important part of the market. What do we expect today?
What a day was yesterday! Let’s jump right in!
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