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 sags after American crude hits near two-year maximum on pipeline shutdown
On Thursday, crude went down, with American crude drifting away from two-year maximums hit yesterday, although the shutdown of the Keystone pipeline as well as a drawdown in fuel inventories kept driving markets notwithstanding concerns over rising output.
American West Texas Intermediate crude futures hit $57.89 a barrel, sliding 0.2% from their previous settlement, although still close to 2015-maximums of $58.15 a barrel hit on Wednesday.
As for Brent crude futures, they reached $63.14 per barrel losing 0.3%.
Lower supplies into America from the north as well as firm exports from the south will probably back a further reduction in American inventories, as some financial experts state.
In the USA, crude inventories went down 1.9 million barrels by November 17, hitting 457.14 million barrels. Stocks have declined by 15% from their records in March, staying below the previous year’s readings.
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?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.