Natural gas prices slumped over two percent in American trade, shrugging off the dollar's fall, which follows a stream of data from the U.S., the world's largest energy consumer, including the EIA inventory report, which showed a less-than-expected inventory drawdown
 
As of 08:56 GMT, natural gas prices due on March 16 slid 2.46% to $2.853 per million British thermal units from the opening price of $2.925, with a session-high at $2.953, and a three-month low at $2.847, while the dollar index shed 0.72% to 100.46 from the opening of 100.96.
 
Earlier U.S. data showed building permits up to 1.29 million in January from 1.23M in the previous reading, revised higher from 1.21M, while analysts expected 1.23M.
 
Housing starts fell to 1.25 million last month from 1.28M in December, revised higher from 1.23M, while still beating expectations of 1.23M.

On the same note, the Philly Manufacturing index jumped to 43.3 in February from 23.6 in January, handily beating expectations of 18.5, while unemployment claims fell to 239 thousand in the week ending February 11 from 243K, while analysts expected 245K.
 
Continuing claims fell to 2.076 million in the week ending February 4, down from 2.078M, while analysts expected 2.058M.

Finally, the Energy Information Administration released its report on U.S. natural gas stocks, showing a drawdown o 114 billion cubic feet in the week ending February 10, adding to the previous reading's 1.52B drawdown, while analysts expected a 130B fall, with the total now reaching 2.445 trillion cubic feet, down from 2.559 trillion in the previous week, which is lower than the same period in 2016 at 2.748 trillion, while higher than the five-year average at 2.358 trillion.

Silver prices rose on Thursday to a 3-1/2 month high, hovering above $18 an ounce as the dollar falls against a basket of currencies, underpinning commodities.
 
Silver last traded at $18.08 an ounce, up from the opening price of $17.96, with a session-high at $18.11, and a low at $17.91.
 
Silver's surge today comes as the dollar tumbles on profit-taking after hitting a five-week high against a basket of currencies yesterday following upbeat inflation and retail sales data from America.
 
Dollar's decline buoyed the greenback-denominated silver futures, while stocks stopped rising after hitting record highs recently, buoying demand on the white metal as an alternative investment.
 
The dollar index, measuring the greenback versus a basket of peers, fell to 100.54 from the opening of 101.05, with a session-high at 101.06, and a low at 100.41, after hitting a five-week high yesterday at 101.76.

Crude prices kept wavering on Thursday for the third straight session after failing to sustain its earlier advance, due to the latest U.S. inventory buildup that could offset OPEC's production cuts.
 
U.S. crude futures last traded at $52.86 a barrel, compared to the opening price of $52.97, with a session-high at $53.56, and a low at $52.66.
 
Crude prices rose earlier today after news showed OPEC could cut production further till markets reach a balanced state, in order to support prices.
 
On the other hand, the dollar fell against a basket of currencies on profit-taking after Fed Chair Yellen's Congress testimony yesterday, which supported crude prices, but the gains were transient and prices reversed lower quickly.
 
U.S. crude stocks are surging on the other hand week after week, keeping the pressure on prices amid oversupply concerns, even as OPEC cooperates with Russia to cut global output.

Sterling rose on Thursday away from a one-week low hit last week, as the royal currency rebounds following dollar's tumble on profit-taking after hitting a five-week high yesterday.
 
GBP/USD last traded at 1.2495, up from the opening of 1.2462, with a session-high at 1.2520, and a low at 1.2454.
 
The dollar fell today for the second session after surging yesterday following strong U.S. retail sales and inflation data, with traders collecting profits on the greenback, in turn buoying the pound.
 
The dollar is till hurting the pound due to the divergence in the monetary policy between the Fed, which could raise interest rates in March as alluded to by Chair Yellen, and the Bank of England, which plans to keep interest rates at their record lows alongside the stimulus program.
 
The gains remain limited for the pound due to wavering from last week, as markets await further developments regarding the Brexit negotiations.