Palladium prices fell nearly one percent in American trade to April 9 lows, as the dollar index climbed off July 11 lows for the first time in three days, following earlier industrial data from the US, and ahead of Federal Reserve Chair Jerome Powell's Congress testimony.
As of 01:32 GMT, palladium fell 0.86% to $912.83 an ounce from the opening of $920.73, marking three-month lows, while the dollar index rose 0.21% to 94.71 from the opening of 94.51, climbing off week lows.
US Industrial Data
Earlier US data showed industrial production rose 0.6% in June, compared to a 0.5% dip in May, while analysts expected a 0.5% increase.
The Capacity Utilization Rate rose to 78.0% in June from 77.7%, missing expectations of 78.4%.
Federal Reserve Chair Jerome Powell will present the first half of his testimony on the Semiannual Monetary Policy Report before the Senate Banking Committee, in Washington DC later today.
Powell will present the second half before the House Financial Services Committee tomorrow, with investors looking for clues on future monetary policies and interest rate hikes this year.