
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?
On Thursday, gold surged in Asia because risk-on sentiment was still in place on prospects for Donald Trump to push fresh economic policies amid a political backlash as for his recent firing for FBI Directors James Comey.
In New York, June delivery gold futures grew 0.14%, being worth $1,220.65 a troy ounce. As for copper futures, they tacked on 0.28%, hitting $2.502 a pound.
Overnight, gold ascended because market participants’ hunger for risk relieved after Trump suddenly fired Comey. Meanwhile, geopolitical worries as for North Korea got back because gold futures bounced off an eight-week minimum.
Additionally, the New York Times posted that just days before he was sacked, Comey asked the Justice Department for extra resources for the bureau's investigation into Russia's reported interference in the presidential election.
Besides this, geopolitical concerns underpinned gold’s rise after North Korean ambassador to Great Britain told that the country will get down to its sixth nuclear test.
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?
US Energy Information Administration will reveal Crude oil inventories on February 9, 17:30 GMT+2.
On Wednesday, February 2, during the day, members of the Organization of Petroleum Exporting Countries (OPEC) and Joint Ministerial Monitoring Committee (JMMC) will discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
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