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 moderately in Asia
On Tuesday, gold sank a bit in Asia, with language from the Federal Reserve after its Wednesday’s rate announcement considered to be key for direction.
February delivery gold futures dived 0.06% in New York being worth $1,246.10 a troy ounce.
Overnight, gold was still pressured notwithstanding weakness in the greenback as data disclosed money managers dared to slash their bullish bets on gold to a 17-week minimum ahead of a widely aniticpated Federal Reserve interest rate lift.
Fresh from a three-week losing marathon, the number one precious metal struggled to pare recent losses as market participants waited for the final Federal Reserve gathering of the year slated to get underway on Tuesday, while a policy decision will emerge on Wednesday.
Apart from the policy decision on interest rates, market participants are also expected to digest the Fed’s update to the summary of economic projections for further clues on upcoming monetary policy.
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.