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 soars in Asia as traders wait for Fed views
On Wednesday, gold prices soared in Asia, with the fresh Fed view on interest rates awaited by the financial markets, to understand if weaker than expected surge and a slower legislative process on tax cuts as well as spending plans by the Trump administration has influenced forecasts for 2017.
In New York, June delivery gold futures grew 0.05%, trading at $1,257.64 a troy ounce. Meanwhile, copper futures slumped 0.91%, trading at $2,616 a pound.
Overnight, gold managed to pare losses, deriving benefits from a weaker greenback, as traders’ appetite for riskier assets sagged moderately ahead of the Fed’s interest rate verdict on Wednesday.
Gold bounced back from a three-week minimum, as uncertainty as for the overall tone of the Fed statement, to be issued on Wednesday, along with an interest rate verdict, capped losses.
Recent economic reports haven’t appeared to be supportive of faster rate lifts because manufacturing as well as construction spending activity edged down in April, while market participants braced for a jobs report on Friday.
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?
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…
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Hello, dear traders! We hope you have a great day! Let’s see what news is worth following today! Market closing US stock exchanges will be closed due to the Thanksgiving holiday…