Crude oil rallied beyond $69.74 for the first time in 2 years .
After dipping down to $66.43, Oil regained earlier losses, closing $69.39. (Trade Oil with FXTM now).
Uptick comes while some more positive signs for Oil are out as data for United States ISM Non-Manufacturing PMI (May) released yesterday at 2:00 PM comes out at 64, beating projections of 63 and showing improvement over the preceding figure of 62.7. Data for United States Initial Jobless Claims released yesterday at 12:30 PM comes out at 385,000, beating projections of 390,000 and showing improvement over the preceding figure of 405,000.
At the same time, United States Crude Oil Inventories fall short of the -2.44 million projections, with -5.08 million and continued its downward trajectory from previous figure of -1.66 million.
A look at other markets also show green moves as EUR/NZD rallies beyond 1.701 for the first time in 4 months. EUR/AUD climbs to 1.5851, a new 4 months high. After 2 months hiatus, Dollar/Yen is back at 110.33 levels.