Palladium backs off seven-month high as dollar regains footing

Palladium prices tilted lower in American trade away from February 27 highs, as the dollar index rebounded from July 9 lows, ahead of US manufacturing and services data. 

As of 01:44 GMT, palladium fell 0.11% to $1,051.33 an ounce away from seven-month highs, while the dollar index rose 0.43% to 94.31 away from ten-week lows. 

Now investors await US data on manufacturing and services PMIs, with the first estimated at 55.1, up from 54.7, while the second is also expected with an increase to 54.9 from 54.8.