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ISM manufacturing – PMI June 1, 17:00 MT time
OPEC meeting – June 2, all day
US NFP – June 3, 15:30 MT time
The economy is damaged due to inflation, rising rates, supply issues, and geopolitics. So, there is a high chance of ISM PMI decrease. Plus, the index may enter the contraction zone (fall below 50.0) and press more on USD and stocks. If purchasing managers consider the economy weak, the broad market should also be worried.
OPEC wants to stand on the sidelines but faces pressure to boost production. There is a chance OPEC will deny increasing oil output and push the prices higher. The last meeting started an uptrend that led to a 99% soar in XBRUSD. This is a long-term trade, so you don’t need to rush.
NFP and unemployment rate help understand overall economic health and predict the future Fed readings results. Gold and USD are highly affected by this data. Last month gold lost 1500 points first and then soared by 1780 points.
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