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).
Oil descends moderately in Asia after API figures
On Wednesday, oil sagged moderately in Asia, right after industry estimates demonstrated a steep sink in American crude inventories. Traders also watch a diplomatic clash after major Gulf Arab states snapped commercial and diplomatic ties to Qatar in the beginning of the week.
In New York, West Texas Intermediate crude futures lost 0.04%, trading at $48.17 a barrel. Meanwhile, Brent futures sank 0.06%, trading at $50.09 a barrel.
American crude inventories declined 4.620 million barrels by the end of the previous week, as the American Petroleum Institute informed on Tuesday, which is more than the 3.5 million barrels expected.
However, gasoline supplies leapt 4.1 million barrels compared with a build of 667,000 barrels observed and distillates managed to gain 1.8 million barrels compared with the expected build of 271,000 barrels.
In the USA natural gas for June inched up 0.36%, hitting $3.070 per million British thermal units.
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.