The US Payrolls Bring New Hope for Gold
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 sinks in Asia, remaining backed on Middle East tensions
On Friday, gold went down in Asia, while being backed due to Middle East tensions between Saudi Arabia and Iran and an approaching summit in Vietnam among Asia-Pacific nations.
December delivery gold futures slumped 0.11% in New York trading at $1,286.13 a troy ounce.
Overnight, gold climbed up to three-week maximums amid a decline in the greenback on fears that the Senate would postpone corporate tax cuts until 2019.
Gold contributed to revenues from Wednesday’s trading session after the US currency dived on reports that on Thursday Senate Republicans will suggest delaying a cut in the corporate tax rate to 20% from 35% until 2019.
The very news of a probable delay to corporate tax cuts reversed recent risk-on sentiment, driving a flight-to-safety as investors happened to unwind their bullish bets on risky assets that followed on hopes that President Trump’s tax-reform plans would be operative before year-end.
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The Organization of Petroleum Exporting Countries will hold a meeting on June 2.
Russian Oil Got Banned from Market
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?
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Increased Volatility is Coming
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
Market Crash Incoming?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
What Currency Will Overperform?
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
