
The Organization of Petroleum Exporting Countries will hold a meeting on June 2.
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). Millions of eyes watch these data closely because it shows us the overall economic health. Average hourly earnings are the earliest data related to labor inflation. NFP and unemployment rate help understand overall economic health and give clues on what future Fed readings result.
All three readings are worth traders’ attention. As they are released monthly, they provide accurate info on the current state of the economy. Last month’s they brought big swings in the price of related assets. Gold, as it has an inverse correlation with the USD, is ausually affected by this data. It moved lower by 1500 points and then soared by 1780 points. Trading one lot on this swing would have brought you $1790.
This data may significantly impact different assets, including gold and USD-related pairs. We expect this reading to bring volatility to the XAUUSD.
Check the Economic Calendar.
Instruments to trade: XAU/USD, EUR/USD, USD/CAD.
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?
US Energy Information Administration will reveal Crude oil inventories on February 9, 17:30 GMT+2.
Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?
XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!
Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!