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 stands still at the beginning of busy week
On Monday, gold didn’t change in European morning trade because traders looked ahead to comments from major Fed officials as well as a bunch of US economic reports in the week ahead for fresh signs of the major bank's probable rate hike trajectory through the end of 2017.
In New York, gold futures demonstrated $1,255.73 a troy ounce, losing less than 0.1%. On Friday, the number one precious metal ascended for a third session in a row, extending its profits from a five-week minimum of $1,241.70 reached the previous week.
Additionally, silver futures tacked on approximately 0.2%, showing $16.67 a troy ounce.
On Tuesday, investors are supposed to pay much attention to comments from Fed Chair Janet Yellen because they look for more hints as for the timing of the upcoming American rate lift as well as clues on how the major bank intends to pare back its balance sheet.
Apart from that on Thursday market participants will pay attention to the final reading of American first-quarter economic surge for further evidence on the health of the world's number one economy.
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?
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
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.