FX.co ★ Overall Market Doubts the Continuing Rise in Oil Prices

The oil market attempts to recover on the back of mixed data on oil and petroleum products in the United States.

Crude oil prices bounced back to the rate in the earlier of June, however, it remained below $ 50 per barrel.

The price dynamics demonstrated a temporary growth as oil prices lost a significant part of their growth during the day.

Consider the consensus forecast of Bloomberg, as the statistics during the month of June should show an increase of 170,000 new jobs while sustaining a 4.3 percent for the unemployment rate.

Forecast of the day:

The EUR / USD pair had a downward correction, breaking the support level at 1.1390.

The GBP / USD could possibly fall towards 1.2900 after overcoming the 1.2960 mark on the back of a strong technical overbought.