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 rebounds in Asia after recent drops
On Thursday, gold rebounded moderately in Asia because market participants came in after a recent steep sag following the French election outcome. Moreover, traders took positions on potential geopolitical risks on the Korean peninsula exactly where America has moved to setup a sophisticated anti-missile system to prevent North Korea from launching ballistic missiles.
In New York, June delivery gold futures grew 0.28%, trading at $1,276.33 a troy ounce. As for silver futures, they ascended 0.37%, being worth $17.496 a troy ounce. Copper futures sank 0.58%, trading at $2.587 a pound.
Overnight, gold traded moderately below breakeven, suppressed by a shift in market sentiment towards riskier assets, as market participants digested bullish comments from American Treasury Secretary Steven Mnuchin and waited for a tax reform update from Donald Trump.
On Monday, Treasury Secretary Steven Mnuchin confirmed that the tax reform plan would reduce the business tax rate to 15%. His comments came ahead of a highly anticipated update from Donald Trump on his tax reform initiative.
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?
The USD weakened after Fed Chair Powell hinted at a slowdown of rate hikes, and stocks strengthened. What else is moving the markets today?
The winter is coming, and risky markets expect a rally to come with it. Will this December be bullish for stocks, crypto, and gold? A pack of news will surely help you out.
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…