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).
In Asia oil declines on profit-taking
On Tuesday, oil slumped in Asia on profit-taking, and in careful trade after a terrible explosion at a concert venue in Manchester was supposed to be a terror attack with news suggesting that the authorities are considering rescheduling the June 8 surveys for the parliament.
In New York, June delivery crude futures declined 0.33%, trading at $50.96 a barrel. Meanwhile, in London, Brent futures tumbled 0.35%, getting to $53.68 a barrel.
Overnight, oil futures tacked on amid ascending hopes that OPEC members are going to agree to extend their output drops, after Iraq backed Saudi Arabia’s view that output drops should be extended at least until March 2018.
On Monday, oil inched up because expectations grew for an extension of the supply-cut agreement, right after on Monday Iraqi Oil Minister Jabar Ali al-Luaibi announced that he agreed with Saudi Arabia on the necessity to extend OPEC crude output dips for nine months.
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The OPEC Meeting May Push Oil to $150
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?
Latest news
Nonfarm Payrolls is in Focus Today
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
No More US Debts in Sight
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.
Gold Rises as Central Banks Buy More
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
