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 retreats further from 3-1/2 month maximums
On Tuesday, gold dived, rebounding further from the previous week’s three-and-a-half month maximums because the evergreen buck strengthened versus the common currency and market participants kept betting on further rate lifts by the Fed in 2018.
Gold futures hit $1,314.90 a troy ounce, losing 0.4% from their previous close.
The common currency dived to more than one-week minimums versus the evergreen buck as market participants took profits after its recent soar amid worries that the ECB might try talking down the strengthening currency ahead of its monetary policy gathering later this month.
After getting off to a firm start to 2018 the common currency had reached a four-month maximum on Thursday, thus putting it within impressive distance of a September maximum of 1.2092, which is its strongest value since early 2015.
The weaker common currency backed the evergreen buck. The US dollar index, gauging the US dollar’s value versus a basket of six key currencies, rallied 0.17% being worth 92.24.
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 first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!