The US PPI will come out on Thursday, May 12, at 15:30 MT time.
Tuesday News: Tension is Rising
The consequences of Russian sanction have influenced all over the worlds. The commodities question has become crucial, especially for Europe, however as for the US, it doesn’t seem a problem.
Brent Futures crude reached $137 a barrel, the highest price since July 2008.
Gold futures rose above $2,000 an ounce for the first time in 18 months. The resistance now is $2022.50 and the support is $1975.
JPMorgan Chase & Co. said it would remove Russian bonds from all of its widely tracked indices, further isolating the country's assets from global investors.
The Biden administration is considering a possible ban on oil imports from Russia to the US, but "no decision has been made at this time," an administration official told Fox News.
The S&P 500 fell nearly 3%, its worst day since October 2020, while the high-tech Nasdaq 100 dropped 3.7% and the Nasdaq Composite closed in bear market territory.
Here are some highlights from this week:
- Apple new products event on Tuesday.
- China aggregate financing, PPI, CPI, money Supply, CNY New Loans on Wednesday
- Statement by Reserve Bank of Australia governor Philip Lowe on Wednesday and Friday
The US CPI will come out on Wednesday, May 11, at 15:30 MT time (GMT+3).
Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.