Crude oil climbs to $63.05 (a 6% gain) after starting the week at $59.5 .
A good end to the trading week, Crude oil spiked to $63.05 gaining $3.56. (Start trading Crude oil at FXTM today).
This move comes while some more positive signs for crude oil are out as United States Core Retail Sales came out at 8.4, above the estimate of five. This is also a step forward from the previous data of -2.5.
Nevertheless, United States Crude Oil Inventories published on Wednesday came out at -5.89 million, falling short of the -2.89 million projections and continuing its decline from the previous -3.52 million figure.
Crude oil shows positive signs, other assets are also on par: after 2 years, Euro/Yen hit a fresh high at 130.63. The New-Zealand Dollar made its largest weekly gain of 105 pips(0.34%) since November 2020.
At the same time, Yen made its largest weekly gain of 104 pips (0.04%) since November 2020. The GBP/NZD made its largest weekly gain of 285 pips (0.75%) since December 2020. At 1.697, GBP/CAD is down to its lowest value in 4 months.