Palladium rises for fourth straight session, dollar backs off year peak

Palladium prices rose about two percent in American trade off July 26, 2017 lows, as the dollar index backed off one-year highs, ahead of US housing data today.

As of 01:27 GMT, palladium prices rose 1.91% to $932.75 an ounce from the opening of $915.27, marking July 17 highs, while the dollar index shed 0.25% to 94.38 from the opening of 94.61. 

Now markets await US new home sales data, expected to have fallen 2.9% in June to an annualized 669 thousand units, compared to a 6.7% rise in May to 689 thousand units in May. 

US President Donald Trump recently threatened a tax on European cars, which utilize palladium heavily, in turn hurting the commodity's prices after marking record highs in January $1,139.62 an ounce, plunging thereafter to year lows at $861.61 on global trade concerns and dollar's recent strength.