The oil prices and European stocks recorded a low on Thursday, but were still strong on most gains this week. This comes as concerns eased about the for economic growth outlook globally.

The calm experienced lately in global markets following quit a turbulent stat this year were helped by sings of rebound in most commodity prices as well as upbeat data emanating from major companies.

Growth of the private sector in Germany dropped to a five-month low this month, but remained strong. According to a survey released on Tuesday, it is clear that it was affected by the growing services. European markets .FTEU3 also fell, but remained very close to a two-month high, something that reflects more confidence among investors.

Oil prices reversed the gains that were recorded earlier, as more U.S. crude inventories overshadowed a growing belief that market’s 20-month long rout is coming to an end. Brent crude prices slipped 0.9% to $36.63, but are still 35% above the lows it recorded last month. The U.S. crude futures also lost by $34.51 or 0.4%, but are doing good in general, having risen over a third since February 11 when the prices fell to record levels since 2003.

FTSEurofirst 300 also fell to 0.4%, with Frankfurt .GDAXI, Paris .FCHI and London .FTSE all losing their ground. This followed Asia’s strong session, where the MSCI’s broadest index outside Japan .MIAPJ0000PUS added 1.1% more to hit a two-month peak.

A report due to be released on Friday could boost the hope that the Fed remains on the right path to raise this year’s interest rates and bolster the dollar. Nordea’s FX strategist said that it is now witnessing better risk appetite when it comes to the yen. He further noted that the focus now shifts to ISM report and whether, just like the survey on manufacturing, it will be promising. If that will be the case, the dollar will move higher.