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).
Oil tumbles, gasoline spikes because floods knock out one-fifth of American refineries
On Wednesday, crude prices went down, although gasoline jumped to their maximums since July 2015 because flooding as well as storm damage in the wake of Hurricane Harvey knocked out one-fifth of American refineries, confounding demand for oil, though driving fears of fuel shortages.
Hurricane Harvey that has been already downgraded to an ordinary storm, has generated huge floods across coastal Texas, and also in Houston. The disaster is currently heading for Louisiana, exactly where more floods are supposed to take place.
American West Texas Intermediate crude futures hit $46.31 a barrel, losing 13 cents from their previous close. As for Brent crude futures, they tumbled 21 cents being worth $51.79 a barrel.
American gasoline prices leapt over 3% hitting $1.8396 per gallon. Earlier prices demonstrated the most impressive reading since July 31, 2015, reaching $1.842.
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Market Crash Incoming?
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.
What Currency Will Overperform?
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.
Investor Positivity May Fade After Powell's Speech and CPI Release
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.
