
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).
On Wednesday, February 2, during the day, members of the Organization of Petroleum Exporting Countries (OPEC) and Joint Ministerial Monitoring Committee (JMMC) will discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce. Representatives from the 13 OPEC members and 11 other oil-rich nations attend meetings. The discussions are closed to the press, but officials usually talk with reporters throughout the day. After the meetings have concluded, they release formal statement covering policy shifts and meeting objectives.
Oil prices are highly dependent on the global supply to demand ratio. The main goal of OPEC+ organization is to balance this ratio by supply changing. Oil prices have been growing for six weeks straight, and OPEC+ might intervene in the situation.
Last time, OPEC+ did not increase production. As a result, oil prices kept rising due to the increasing oil deficit. If OPEC+ sticks to the previous plan again, oil prices might keep the momentum up to $100.
Instruments to trade: XTI/USD, XBR/USD
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).
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.
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