Oil slips after US inventories data
Oil prices fell on Wednesday, after data showed a build in the US crude inventories.
The Energy Information Administration reported today that the US crude inventories rose 1 million barrels to 434 million barrels during the past week, while analysts forecast a drop by 1.7 million barrels.
While the American Petroleum Institute reported yesterday in preliminary data that the US crude inventories rose 2.3 million barrels during the same period.
The dollar index rose against a basket of major currencies by 0.4% to 96.8 points as of 17:10 GMT, after hitting a high of 96.9 points and a low of 96.4 points.
As of 18:35 GMT, WTI December futures fell 0.3% to $78.2 a barrel.
Brent January futures fell 0.3% to $82.02 a barrel.
Dollar rises with focus on Fed minutes
The US dollar rose against most of its rivals on Wednesday, ahead of the Federal Reserve's meeting minutes.
Data showed today that the second reading of the US GDP grew 2.1% in the third quarter, on par with forecasts.
The US Department of Labor revealed that the number of initial unemployment claims fell to 199K last week from 270K, better than forecasts of 259K.
The US durable goods orders index fell 0.5% last month, missing forecasts of a rise by 0.2%, and the core reading rose 0.5%, on par with forecasts.
The personal consumption expenditures index rose 0.5% in October, as the market expected for the second straight month.
The Fed's meeting minutes will be released later today which reveals the discussions that took place during the last meeting and the decision to start reducing asset purchases.
The dollar index rose against a basket of major currencies by 0.4% to 96.8 points as of 18:53 GMT, after hitting a high of 96.9 points and a low of 96.4 points.
Gold rises after mixed economic data
Gold prices rose on Wednesday, despite the US dollar's rise against most currencies, after the release of mixed economic data.
Data showed today that the second reading of the US GDP grew 2.1% in the third quarter, on par with forecasts.
The US Department of Labor revealed that the number of initial unemployment claims fell to 199K last week from 270K, better than forecasts of 259K.
The US durable goods orders index fell 0.5% last month, missing forecasts of a rise by 0.2%, and the core reading rose 0.5%, on par with forecasts.
The personal consumption expenditures index rose 0.5% in October, as the market expected for the second straight month.
The dollar index rose against a basket of major currencies by 0.4% to 96.8 points as of 20:34 GMT, after hitting a high of 96.9 points and a low of 96.4 points.
Gold spot prices rose 0.2%, to $1,787.5 an ounce as of 20:34 GMT.
US stocks fall after conflicting economic data
US stock indices fell in early trading on Wednesday, after the release of mixed economic data, and ahead of the Federal Reserve's meeting minutes.
Data showed today that the second reading of the US GDP grew 2.1% in the third quarter, on par with forecasts.
The US Department of Labor revealed that the number of initial unemployment claims fell to 199K last week from 270K, better than forecasts of 259K.
The US durable goods orders index fell 0.5% last month, missing forecasts of a rise by 0.2%, and the core reading rose 0.5%, on par with forecasts.
The Fed's meeting minutes will be released later today which reveals the discussions that took place during the last meeting and the decision to start reducing asset purchases.
As for stocks, Dow Jones fell 0.4% or 155 points to 35,658 as of 14:58 GMT, and S&P 500 fell 0.5% or 23 points to 4,666, while Nasdaq fell 0.7% or 115 points to 15,661 points.