Oil keeps mild recovery gains, still remains vulnerable below 52.00. All eyes remain on the US Payrolls and Oil Rigs Count data for fresh direction. WTI (oil futures on NYMEX) trades in a narrow range in the upper bound of the 52 handle so far this Friday, consolidating the recovery following Thursday’s sharp drop to the 51 handle. Despite the moderate advance, the bulls remain cautious amid reduced appetite for the risk assets such as oil, as we progress towards the key event risk for today, the US Labor market report, that may have a significant impact on the dollar trades, in turn influencing the USD-denominated oil. The prices remain on track for a big weekly loss, in the face of rising fears that the global economic downturn will heavily temper the oil demand growth prospects. Moreover, swelling US crude inventories combined with the restoration of the Saudi oil production capacity continue to keep the sentiment around the barrel of WTI undermined.  Markets now await the US employment data and Baker Hughes US Oil Rigs Count data for near-term trading direction in the prices. Also, the trade and US political headlines could drive the oil market sentiment going forward. WTI Levels to watch    FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Global economy at a precarious moment – Danske Bank FX Street 3 years Oil keeps mild recovery gains, still remains vulnerable below 52.00. All eyes remain on the US Payrolls and Oil Rigs Count data for fresh direction. WTI (oil futures on NYMEX) trades in a narrow range in the upper bound of the 52 handle so far this Friday, consolidating the recovery following Thursday's sharp drop to the 51 handle. Despite the moderate advance, the bulls remain cautious amid reduced appetite for the risk assets such as oil, as we progress towards the key event risk for today, the US Labor market report, that may have a significant impact on the dollar… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
