Commodities Week Ahead: Oil Back in Inflation Grind as Powell, U.S. Jobs Beckon

and monthly — are Regular Forex Platforms in the Worldboth on for this week, putting an additional layer of caution over the trading of stocks to commodities, including oil.

and is due this week, providing more cues on the state of the economy in the world’s largest oil importer.

, which was at $79.03 a barrel by 02:00 ET (07:00 GMT), down 65 cents, or 0.8%. The US crude benchmark had gained 4.4% last week.

was at $85.10, down 73 cents, or 0.9%. The global crude benchmark finished last week up 3.7%.

is expected to hold steady at a more-than-five-decade low of 3.4%.

, a broad gauge of inflation, hit a 40-year high of 9.1% for the year to June. It has moderated since to an annualized growth of 6.4% in January but remains well above the Fed’s target of just 2% per year.

added 450 basis points to interest rates since March last year via eight hikes. Prior to that, rates stood at nearly zero after the global outbreak of the coronavirus in 2020.

for the Fed’s March 22 policy meeting, monitored by foreign exchange traders, remained largely at 25 basis points on Friday, though that could change with the increasing calls for tighter policing from the central bank’s hawks.

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