Silver futures rose over one percent in American trade away from the lowest since February 2016 for the fifth straight session, as the dollar index tumbled to a ten-month nadir following earlier data from the US, the world's largest economy. 

As of 07:19 GMT, silver futures due on September 15 jumped 1.49% to $15.925 an ounce from the opening of $15.660. while the dollar index slumped 0.61% to 95.15 from the opening of 95.76, marking the lowest since September. 

Earlier US data showed consumer prices slowing down on a yearly basis in June, while retail sales fell further unexpectedly last month. 

US industrial production grew more than expected in June, while the Capacity Utilization Rate rose below expectations, as business inventories matched expectations in gains, while the preliminary UoM consumer sentiment survey fell unexpectedly in July. 

Federal Reserve Bank of Dallas President Robert Kaplan said in a speech about the Federal Reserve and monetary policy at the Center for Economic Studies of the Private Sector, in Mexico City, that recent softening of inflation is transient, while a state of weakness dictates the pace of wages growth, and added that trimming down the Fed's balance sheet will be gradual with little impact on markets. 

Kaplan said the trade activity between the US and Mexico improves the local competitive edge, while expressing his confidence in US inflation reaching the FOMC's 2% target even if consumer prices lowed down every now and then, mentioning the need to see evidence of such firm direction upward before hiking interest rates again this year. 

The mostly negative data earlier today came after Federal Reserve Chair Janet Yellen presented the second part of her Congressional testimony about monetary policy ahead of the Senate Banking Committee yesterday, and now could force the Federal Open Market Committee to hold on tightening the policy in the July 25-26 meeting, weighing on the greenback today.

Oil futures rose nearly one percent for the fifth session in a row as the dollar index swooned to a ten-month trough, following earlier data from the US, the world's largest energy consumer. 

As of 06:41 GMT, US crude futures due on August 16 rose 0.74% to $46.42 a barrel from the opening of $46.08, while Brent crude futures due on September 15 climbed 0.76% to $48.79 a barrel from the opening of $48.42, as the dollar index slid 0.48% to 95.27 from the opening of 95.76, marking the lowest since September 12. 

Earlier US data showed consumer prices slowing down on a yearly basis in June, while retail sales fell further unexpectedly last month. 

US industrial production grew more than expected in June, while the Capacity Utilization Rate rose below expectations, as business inventories matched expectations in gains, while the preliminary UoM consumer sentiment survey fell unexpectedly in July. 

The mostly negative data came after Federal Reserve Chair Janet Yellen presented the second part of her Congressional testimony about monetary policy ahead of the Senate Banking Committee yesterday, and now could force the Federal Open Market Committee to hold on tightening the policy in the July 25-26 meeting, weighing on the greenback today.

Otherwise, oil futures were bolstered today as demand climbed in China and overpowered oversupply concerns around the globe. 

China imported 8.55 million bpd of crude oil in the first half of the year, up 14% y/y, making China the world's largest oil importer. 

The IEA said it's less confident that global markets will regain their balance as expected before, as OPEC production climbs and global inventories don't fall as fast as though. 

The compliance rate for OPEC producers with output cuts fell to 78% in June from 95%, after some countries pumped more than their limits, like Iraq, Emirates, and Venezuela, while the agency upgraded its global demand growth forecasts by 100 thousand bpd to 1.4 million bpd in 2017, as global supplies fell to 266 million bod in May from 300 million bpd in April. 

Earlier this week, the Energy Information Administration released its report on US crude stocks, showing a sharp fall of 7.6 million barrels in the week ending July 7, adding to a 6.3M drawdown in the previous reading, while analysts expected only a 3.2M drop, with total inventories now reaching 495.4 million barrels, remaining within the uppermost range on average in this time of year. 

Otherwise, gasoline stocks fell 1.6 million barrels, while distillate inventories, including heating fuel, rose 3.1 million barrels, both remaining within the uppermost range on average in this time of year.

Sterling rose for the third session in a row to the highest since September 22, 2016, following earlier data from the US, the world's largest economy, and amid a lack thereof from Britain. 

As of 06:22 GMT, GBP/USD rallied 1.06% to 1.3076 from the opening of 1.2939, with a ten-month high at 1.3093, and a session-low at 1.2936. 

Earlier US data showed consumer prices slowing down on a yearly basis in June, while retail sales fell further unexpectedly last month. 

US industrial production grew more than expected in June, while the Capacity Utilization Rate rose below expectations, as business inventories matched expectations in gains, while the preliminary UoM consumer sentiment survey fell unexpectedly in July. 

The mostly negative data came after Federal Reserve Chair Janet Yellen presented the second part of her Congressional testimony about monetary policy ahead of the Senate Banking Committee yesterday, and now could force the Federal Open Market Committee to hold on tightening the policy in the July 25-26 meeting, weighing on the greenback today.

Euro rallied past 1.14 against the dollar in American trade, heading for the highest weekly close since April 24, 2016, following earlier data from the euro zone and the US, the world's largest economy.

As of 06:09 GMT, EUR/USD rose 0.54% to 1.1459 from the opening of 1.1398, with an intraday high at 1.1468, and a low at 1.1392. 

Earlier euro zone data showed Italian trade surplus widening unexpectedly in May, while the whole region's trade surplus rose to 19.7 billion euros from 18.6 billion in April, missing forecasts of 20.3 billion. 

Earlier US data showed consumer prices slowing down on a yearly basis in June, while retail sales fell further unexpectedly last month. 

US industrial production grew more than expected in June, while the Capacity Utilization Rate rose below expectations, as business inventories matched expectations in gains, while the preliminary UoM consumer sentiment survey fell unexpectedly in July. 

The mostly negative data came after Federal Reserve Chair Janet Yellen presented the second part of her Congressional testimony about monetary policy ahead of the Senate Banking Committee yesterday, and now could force the Federal Open Market Committee to hold on tightening the policy in the July 25-26 meeting, weighing on the greenback today.